Regents OK UI estate sale

BY DI STAFF | OCTOBER 28, 2011 7:20 AM

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The state Board of Regents unanimously approved a University of Iowa request to sell university property Thursday.

The UI will sell approximately 108.85 acres of farmland — located in Harrison County — to the Frank R. Krejci Revocable Trust for $535,808.

Proceeds from the sale will be used by the UI College of Engineering. In 2007, Lavina Thomas gave the estate to the engineering school.

The sale price was determined at a land auction hosted by the Farmers National Co. on Sept. 28. The UI will pay a 4 percent commission on the sale price to Farmers National for holding the auction and for advertising costs.

— by Dora Grote

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