GLASGOW Western Kentucky Universitys Board of Regents authorized President Gary Ransdell to sell a 1.67-acre lot at the corner of Nashville Road and Campbell Lane on Friday. John Osborne, associate vice president for campus services and facilities, said the university is in talks with Hogan Real Estate, which works with Walgreen drug store. The proposed price is $1.3 million. The details are yet to be resolved, Osborne said. The lot contains Westerns Applied Physics Institute building and a vacant house the university owns, Osborne said. The university could sell three other lots, between the Colonial Manor nursing home on Nashville Road and the commuter parking lot around the corner on Campbell Lane, for commercial properties, Osborne said. Osborne said Ransdell has said the proceeds will be put into the reserve fund. Ransdell and the board decided that it would be better to sell the land than use it for educational purposes, Osborne said. The board also voted to rename Central Hall in honor of former President John Minton. The dorm will be renamed at a ceremony during Homecoming week in October. My family and I are very grateful for the consideration you have given us, Minton told the board. Central Hall is scheduled to be renovated in 2002 and 2003.The board also:Heard and update on campus parking from Gene Tice, vice president for student affairs. Western will lose 120 spots in the Diddle Arena lot, 42 faculty spots behind Thompson Complex and 40 spots along Virginia Garrett Street, which will remain closed after the renovations to the directional dorms is complete this summer. Approved an honorary doctorate for Frank T. Etscorn III, who invented the nicotine patch. The degree was supposed to have been awarded at the May commencement ceremony, but Etscorn could not attend. Ransdell said it will be awarded at the earliest opportunity for Etscorn to attend a commencement. Approved history professor Carol Crowe-Carraco and geography and geology professor Ken Kuehn as University Distinguished Professors and designated 16 retired professors as Faculty Emeritus. Approved contracts for basketball coaches Mary Taylor Cowles and Dennis Felton. Approved a Donor Confidentiality Policy. Approved Ransdells raise of 5 percent for the next year. Approved a tuition rate for distance learning education courses for part-time students. Approved a food service contract with Aramark. Approved the 2002-03 budget, contingent on Kentucky passing a state budget. The $193.3 million budget uses 43.1 percent for compensation enhancements and positions for faculty. We feel like our priorities are in the right place, Ransdell said. Westerns average of 4 percent raises for faculty is second only to Northern Kentucky among the states universities, Ransdell said.