Iowa Lottery Board OKs Clive building purchase
by KIX101.1 /1230 KFJB News Department
posted Jan 30 2014 9:36AM
~ CLIVE, Iowa (AP) - The Iowa Lottery Board has approved the purchase of a $5.4 million building for a new lottery headquarters in Clive.
The board unanimously approved the proposal on Wednesday. The purchase agreement will go to the Executive Council of Iowa for further review.
Lottery spokeswoman Mary Neubauer has said the lottery's Des Moines building needs about $7.8 million in renovations that likely would exceed the building's market value. Neubauer says lottery officials expect they'll be moving this summer or early fall.
Lottery officials anticipated a purchase by earmarking $7 million in the lottery budget for the next two fiscal years. The money comes from lottery profits.