IOWA CITY, Iowa (AP) — The University of Iowa has received permission to develop plans for building a new museum to store its premiere collection of fine art, which has largely been off-campus since a 2008 flood.
The Iowa Board of Regents voted Wednesday to allow the university study sites where a museum could be located and to examine possible public-private partnerships to operate it.
The lack of space for the collection has been one of the most vexing impacts of a historic 2008 flood, when water inundated the museum and 21 other buildings. The Federal Emergency Management Agency has said the museum wasn’t 50-percent damaged, and therefore had to be renovated in the floodplain rather than being rebuilt elsewhere.
But insurers will not cover the art collection, valued at $500 million, at that site.