Standard & Poor’s last week said Iowa State University’s credit would not suffer due to the devastating floods that hit the Midwest in June even as the university has reported preliminary costs of $232 million associated with flood-related repairs.
The university saw about 14 of its buildings on its campus in Ames seriously affected by the flooding, including utility tunnels nearest to the Iowa River which overtook its banks. The damaged dormitories are being repaired and should be ready for the fall semester. As other buildings are repaired, such as the Arts Complex, temporary space is being provided. The university did cancel some summer classes in the arts and music programs.