Auditor: University of Iowa’s AIB sale ‘proper’ and fair

June 6, 2019 | The Gazette

The University of Iowa’s pending sale of the former AIB College of Business property in Des Moines for a fraction of its assessed value is both proper and reasonable, according to a review by State Auditor Rob Sand.

Compelled by questions about why UI wants to sell for $7.5 million nearly 14 acres of land AIB donated in 2015 — assessed at more than $20 million — Sand reviewed bids and consulted with the Polk County Assessor’s Office to ensure “taxpayers received a fair process and a fair price.”

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