As written by Elizabeth Watson in the Dedication booklet, "Construction of this long-awaited Auditorium was made possible by a major gift from Mr. and Mrs. Oliver R. Grace... and by the generosity of the membership of the Long Island Biological Association."

The June 1, 1986 dedication program included remarks by CSHL Director, Dr. J. Watson, Chairman of the CSHL Board of Trustees, Mr. W. Page, Chairman Emeritus of LIBA, Mr. E. Pulling, Chairman of the Cancer Research Institute, Mr. O. Grace, and Centerbrook Architect, Mr. W. Grover. The celebratory address was made by Dr. D.E. Koshland, Jr., Editor of Science Magazine.