Oct. 28, 2010

Flood recovery update, new outdoor athletics complex are among ISU items on regents agenda

by Anne Krapfl

Agenda items

Listen live

The audio of Thursday's meeting will be streamed live from the board's website. Following a closed session, the board will meet in open session beginning around 10 a.m.

Iowa State will ask for permission to begin formal planning of a new sports complex in the green space east of Wallace and Wilson residence halls (the Towers) when the state Board of Regents meets Oct. 28 in Iowa City. The $10.7 million complex would include practice and competition facilities, as well as office/training/locker room buildings for the Cyclone softball, soccer and men's and women's track teams. The site currently is used by ISU recreation services for activities such as rugby, soccer, flag football and lacrosse.

As proposed, the Southwest Athletics Complex and the current soccer complex east of the Lied center would be reallocated to ISU recreation services for club sport programs.

The athletics department proposes to pay for the complex with private gifts and debt financing that uses discretionary and other gift revenues. Neither general university support nor new student fees would be sought.

Also at the board meeting, the athletics department will seek permission to purchase a new Daktronics video scoreboard and sound system for Jack Trice Stadium, costing up to $4 million. The new system would be installed in the north end of the stadium and integrated with the Jacobson building. This purchase would be financed over 10 years and paid for with guaranteed revenue in the department's multimedia contract with Learfield Communications. Again, no general university support or increased student fees would be needed to pay for this purchase.

Flood and RIO updates

In other ISU items, vice president for business and finance Warren Madden will provide board members with another update on flood recovery efforts at Iowa State.

In the consent portion of the agenda (which means little or no discussion by the board) is a report of retirement incentive programs at the three regent universities last year and this year. The numbers from Iowa State's three retirement incentive programs are summarized in the chart below. Enrollment in a fourth retirement incentive option, Phased Plus, is open through April 30, 2011.

Summary: Participation in RIO 1, 2 and 3

Participants Not replacedReplacement rate
Merit supervisory15753%

Savings: RIO 1, 2 and 3

Retirement deadline
Estimated net savings
(5 years)
RIOJan. 31$42.5 million
RIO2July 30$21.5 million
RIO3Dec. 31$13.4 million
Total$77.4 million