NAMES IN THE NEWS : Regans Pay Cash for Pricey Lot

From Times Wire Services

Former White House chief of staff Donald T. Regan paid $400,000 for a two-acre lot in Williamsburg's exclusive Kingsmill community and plans to build a home there, a spokeswoman says.

Court records show Regan and his wife, Ann B. Regan, paid cash for the wooded land in a sale that was closed Nov. 17.

The Regans have arranged to have a house built on the lot by June, said Kathleen Reid, executive assistant to Regan. They are selling their home in Alexandria but will keep a house in Sarasota, Fla., she said.

Regan served former President Ronald Reagan as Treasury secretary for four years before taking over as chief of staff for two years. He resigned in February, 1987, following a bitter dispute with Nancy Reagan.

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