Democrats say Iowa Finance Authority mislead state on new building

Iowa Finance Authority old building

Democrats are blasting the Iowa Finance Authority for misleading state officials in order to get a new building. 

During debate on the IFA budget (along with other economic development agencies), Rep. Chris Hall (D-Sioux City) charged that the IFA told the state Executive Council that it needed to spend $17 million on a new building because the current one has an asbestos problem and they have outgrown it.  

However, Hall pointed to a study by a private company for the Finance Authority which says the cost to fix the asbestos problem is about $21,000 and the building is big enough to suit their needs for the next ten years.

Rep. Hall tried to cancel the contract to buy the new building in the budget bill-it was voted down.

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