Vanessa Miller, The Gazette
IOWA CITY — Barring another devastating flood, the University of Iowa expects to spend over the next five years half what it did between 2012 and 2018 to restore and upgrade its utilities, according to a “confidential information memorandum” made public as part of a UI effort to privatize its utilities.
Utility system capital investments are projected at $93.6 million between the 2019 and 2024 budget years, according to the memo — with major projects including expansion of the main UI power plant and $19 million in repairs to deficient Old Capitol and Currier Residence Hall steam tunnel systems.
By comparison, the UI spent $188 million on utility system capital investments between 2012 and 2018, including $35 million on flood recovery and mitigation. The 2008 flood forced the university to replace 42 miles of wiring, 24 large electric motors and six large air compressors, among other things.