In a meeting of the Property and Facilities Committee on Tuesday, the Board of Regents approved, without debate, the sale of the Ankeny Dairy Farm.

A June 13 board memo called the farm “extremely outdated” and said it is inhibiting the future growth of Ankeny. Proceeds from the sale could be used to build a new facility south of Ames.

“I characterize this as a win-win situation,” said Warren Madden, vice president for business and finance.

The decision authorizes Iowa State to close on the $20.6 million deal with the city of Ankeny on Sept. 1. Payment is planned to be given incrementally over a three year period at a 7 percent interest rate, although Ankeny could also pay up-front, Madden said.

According to a board memo, the sale price was based on the average of two appraisals of the property. Three million dollars was deducted from the average, $23.6 million, because the site could have environmental hazards stemming from the Des Moines Ordinance Plant, which occupied the site during World War II.

“There have been various environmental studies done; we believe $3 million is an appropriate value,” Madden said.

Iowa State will retain the use of a portion of the Ankeny Dairy Farm until the new facility is completed.

Also at the Property and Facilities meeting, Regents expressed concern over the high cost of capital improvements at Iowa State.

Madden said the current budget includes $7.5 million in capital improvements, although the list of buildings needing renovation tops $100 million.

“We continue to have a significant backlog on projects,” he said.

Iowa City Regent Bob Downer questioned the growing list of buildings on campus in need of improvement. He also said certain buildings, such as Snedecor Hall, have serious problems that go “far beyond deferred maintenance,” or renovation.

Madden said Snedecor is a “high priority” facility because of its location near Central Campus and use by the statistics department.

ISU President Gregory Geoffroy said renovations should not be halted until more building funds become available.

The committee also voted to approve a revised Memorial Union renovation budget of $19.9 million, up from $17 million. Madden said the increase was based on increasing materials prices.

The demolition of Knapp and Storms Halls was also discussed when Davenport Regent Amir Arbisser asked Madden if a specific date had been set yet.

Madden said the date is unknown.

“There’s a reasonable probability it will be something like July 19,” he said. “We’re expecting this will happen in the latter part of July.”