IOWA CITY - Preliminary reports from the University of Iowa to the Board of Regents suggest Hancher Auditorium will likely be relocated.

There’s no final decision yet and additional analysis in the next four weeks might mean rebuilding would be a better option.

But, comments made today at the Board of Regents meeting in Iowa City suggest that decision makers are leaning towards a full replacement of Hancher/Voxman/Clapp over a renovation of the current building.

Board of Regents President David Miles said,”This seems like a reasonable thought at this point and so to be working very hard that angle and considering that as a likely or highly possible option seems very reasonable.”

Part of the support for a new building might stem from the subtle cost difference.

To replace Hancher, total flood damages for the U of I would be estimated at $743 million dollars. The university would have to pay 185 million of that.

If the U of I renovates the existing Hancher, total flood damage estimates would be lowered to 590 million.

Still, the U of I would shoulder $175-million of the costs. So, for the U of I, its cost difference between rebuilding or replacing comes down to $10 million.

The U of I will give the Board of Regents its formal recommendations next month.

Floodwaters from the Iowa River surround Hancher Auditorium and Voxman Music building on the University of Iowa arts campus Sunday, June 15, 2008 in Iowa City. (Brian Ray/The Gazette)