The University of Iowa sustained a reported $743 million in damage from floods that occurred last summer. The cost of the total damage has tripled from original estimates, officials said.
The June 2008 flood damaged 20 university buildings, including the severely damaged art buildings. In a statement released by university officials on March 13, the estimate includes all building and content damage and the costs to relocate building complexes for theater and art.
According to Iowa officials, the relocation of the buildings is necessary because the damaged buildings were in a flood plain, and will not be covered by insurance or the Federal Emergency Management Agency (FEMA).
The Iowa Board of Regents must still approve the proposed relocation, and could still decide to rebuild the arts campus in its current location, next to a river, according to ClaimsJournal.com.
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