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February 04, 2009, 11:26 AM ET
U. of Iowa Flood-Recovery Effort Continues, With Federal Help
The University of Iowa, still recovering from the flood last June that inundated buildings and knocked out utility systems, is in line for another $8.6-million in federal assistance to help pay for repairs to the Iowa Advanced Technology Laboratory, the Iowa City Press-Citizen reported. The building, designed by Frank Gehry, is a 124,439-square-foot science-and-engineering complex located alongside the Iowa River, which bisects the university campus.
The sum will be added to $22.5-million the federal government has already allocated for the building and its high-tech contents. Total damage to the facility — one of a number of university buildings damaged by the floodwaters — is estimated at $42-million.
The university said last week that the Federal Emergency Management Agency would finance “replacement or restoration” of two other major complexes that remain closed — the three-building, 297,000-square-foot Hancher Auditorium complex, which has moved performances to a variety of other local venues, and the 92,000-square-foot Art Building East complex. The university’s president, Sally Mason, said at a briefing that no decision had been made on whether to restore or replace the buildings.
The federal agency is also helping to pay for repairs to other structures, including the Iowa Memorial Union and a student apartment complex. The agency is covering 90 percent of repair costs not paid for by insurance. Meanwhile, the university has gotten permission from its governing board to borrow $30-million to help deal with cash-flow issues.
Doug True, the university’s senior vice president for finance, said at the briefing that the institution had so far spent $113-million on flood recovery and had received $21-million from the federal agency and $50-million from its insurers.
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