The patron loaned the money to the museum in October 2001 to keep the financially-troubled property from being sold at auction. Boca Raton is 50 miles north of Downtown Miami.

The 40-year-old, private co-ed Lynn University in Boca Raton, FL and a group of unidentified developers/investors plan to replace the museum building with a 140-room hotel and 400-seat theater near Lynn's 123-acre campus on the outskirts of Boca Raton, 50 miles north of Downtown Miami.

Walker will move the museum to his hometown of Stanford, CT where most of the museum's works are stored. He had hoped the sale of a set of 1928 Mickey Mouse pencil sketches would settle the debt and keep the museum in Boca Raton. But the Disney paraphernalia, valued at about $3.5 million, had no takers at a recent auction. Another deal to pay off the debt with Florida Atlantic University fell through.