The Board of Regents will consider the gift agreement giving the AIB College of Business to the University of Iowa at their meeting next week. The gift from AIB includes approximately 20 acres of land in Des Moines and several buildings. The latest assessment shows the property is worth $21.55 million.
The information for the board meeting says there is equipment and other financial assets on the campus that could also be part of the gift. The board report also says the buildings would require around $215,000 in fire safety improvements.
The transaction was first announced in January as a merger of the schools with AIB becoming a Des Moines campus for the U-I. That later changed and university officials say it would become Regional Regents Center, operated by the University of Iowa.
The plan is for AIB to close on June 30th of 2016 and the property then would be turned over to the U-I.