AEA 267 moving headquarters to Pipac

Oct. 25--CEDAR FALLS -- Area Education Agency 267 will buy and move into the Park Place Events Center at 1521 Technology Parkway for administrative offices and conference space.

The building, also known as the Pipac Centre on the Lake, will house all AEA 267 administrative and staff offices and professional training conferences now housed in three buildings in the 3700 block of Cedar Heights Drive. Those buildings will be sold.

AEA 267 is buying the building for $4 million and plans another $1.5 million in renovations, mainly to the existing restaurant and kitchen area, agency officials said. The three existing AEA 267 buildings are appraised at about $5.5 million to $5.8 million with about $3.1 million in improvements required. Officials said proceeds from sale of the existing buildings should offset the cost of buying the Pipac building and keep a like amount of property on the tax rolls.

Pipac was built in 2005; some existing AEA 267 buildings were built in the early 1970s and are projected to be more expensive to renovate.

The move was approved by the agency's board of directors at a special meeting Monday.

"In the most simplistic terms, we will be selling our three separate facilities and purchasing one facility which will cost less money to renovate, and allow us to capture ongoing savings in maintenance, operation and employee costs," agency officials said.

AEA 267 will take possession of Pipac in late January and will move in about July 1 after renovations.

AEA 267 provides special education, school technology, media and instructional/curriculum support to schools in 18 central and Northeast Iowa counties. Other central offices are located in Clear Lake and Marshalltown, and those offices will remain there.

Administrator Sam Miller said the training and meeting space at Pipac is perfect for AEA.

The agency hosted about 2,000 professional training sessions the past year, attended by 6,000 people. Its existing conference center holds 180 people; the Pipac building more than 600. He said a recent session had to be held in Cedar Rapids due to lack of space.

"One of our primary roles here is hosting conferences and professional development for teachers and school districts and students," Miller said. "About 80 to 90 percent of this building is move-in ready for us. We actually think this is going to result in us making much smaller investments for significantly better facility."

It also has nearby hotel accommodations and easier highway access.

Fred Miehe, a real estate agent involved in the transaction, said the Pipac building's owners, Greg and LeaAnn Saul, wanted the building to continue as an events center, "but we couldn't make something happen."

"It's bittersweet," LeaAnn Saul said. "When someone comes to the table and gives you an offer you can't refuse, you have to do it for business sake." Their insurance business at Pipac will move elsewhere in the Industrial Park.

The Sauls are refunding deposits for 20 weddings or events in 2017.

Ana Hanisch, events coordinator with Sunnyside Golf and Country Club in Waterloo, confirmed to the Courier that the venue was working with Pipac to pick up several of Pipac's small- to medium-sized 2017 weddings when it had dates available.

Courier reporter Amie Steffeneicher contributed to this report.

___

(c)2016 Waterloo-Cedar Falls Courier (Waterloo, Iowa)

Visit Waterloo-Cedar Falls Courier (Waterloo, Iowa) at www.wcfcourier.com

Distributed by Tribune Content Agency, LLC.