Cedar Valley News

 
Regents Okay Campus Bookstore Purchase by UNI
$2.4-Million plus Value of Inventory
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The University of Northern Iowa's request to purchase the privately-owned University Book & Supply store on campus got a green light from the Board of Regents yesterday(Wed).

Because UNI plans to run the store as a non-profit, administrators told the Regents the institution won't incur additional cost to operate it.

The sale includes all the bookstore's assets, including the Hawkeye Bookstore at Waterloo's Hawkeye Community College, so the Board also had to agree to waive a section of Iowa Code that would've barred UNI from continuing to run the HCC bookstore after the sale goes through, probably in March.

UNI officials argued that disrupting the Hawkeye store would pose an undue hardship on the community college.

UNI business officials, like Michael Hagar, told the Regents that students will benefit from the purchase by paying at least 7% less for textbooks, and the university also plans to make buying more convenient, although they didn't specify how.

The purchase will be paid for with a loan, which will be paid back from bookstore operations.

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