CEDAR FALLS, — Once the deal gifting AIB to the University of Iowa is finalized, AIB will be renamed the Regional Regents Center.
Members of the Board of Regents discussed the idea Thursday in Cedar Falls. Regents say the center will likely also be used by the University of Northern Iowa and Iowa State University for classes tailored to the Des Moines area.
Regents also admit there are still plenty of issues that need to be worked out before they vote on the merger.
“It’s an unusual gift in that it’s property so it’s not a gift of cash which is fairly easy most of the time to assume and accept so it’s a gift of about $30 million of urban property that’s gonna have to have the diligence done on it before we accept it along with what is the plan to operate that campus by the University of Iowa,” says Board of Regents’ President Bruce Rastetter.
The Regents did not say when they could vote on the proposal. Their next meeting is on March 11 at the University of Iowa.