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Webster University and Eden Theological Seminary, its neighbor in St. Louis, announced an agreement Wednesday that is designed to dramatically step up the collaboration between the two institutions. Under the arrangement, Webster will pay Eden $5.3 million in exchange for a 5.5 acre parcel of land and three buildings, including its library. The seminary's holdings will then be integrated into Webster's library, to which Eden students and employees will have access. Webster will also lease Eden's athletics fields and, in exchange, give seminary students and staff access to its fitness center. Many religious seminaries have faced increasing financial stress in recent years, and Eden was among the postsecondary institutions that received letters last year after failing on a series of measures designed to gauge financial health.
