State officials voted at Wednesday's Board of Public Works meeting to approve the demolition and rebuilding of the president's residence at the University of Maryland, The Examiner reported.

The building, which is used to host public events, doesn't meet safety codes and hasn't been renovated in more than 10 years, according to The Examiner. But Comptroller Peter Franchot, who voted against the $7.2 million project, said the demolition was an unfortunate project, given the economic climate and an athletic budget deficit at UMd., The Examiner reported.

The athletic department is facing a $4.6 million deficit in its operating budget for fiscal year 2013, and six teams could be cut if they don't raise eight years worth of operating costs by June, totaling $29.1 million.

But Vice President of University Relations Brodie Remington said that the funds designated for the mansion demolition cannot be transferred to support the athletic budget, according to The Examiner.

Read the full article on The Examiner.