Month: March 2023

During a Tuesday afternoon press briefing Iowa Wesleyan University President Christine Plunkett said the Administration is committed to seeing the year thru.  The Mount Pleasant university’s Board of Trustees voted Tuesday morning to close the 181 institution at the end of May. Plunkett said the students will finish classes, spring sports schedules will be played out and commencement will be held as it always has in the past.

She said the United States Department of Agriculture will become responsible for the campus May 31 and she anticipates a trustee will be appointed to oversee all the operating and business decisions related to the closing. In 2016 IW entered into a USDA consolidation loan in the amount of $26 million making the USDA the primary lender.

In a communication with alumni it was stated that there will be a website to provide initial Q&A information and resources for students, faculty, staff, alumni and community partners to outline the path going forward.

Mid-Am Building Supply recently entered into a long-term lease agreement with Knaebel’s, Inc. to lease a warehouse distribution facility in Mt. Pleasant, IA that is to be newly constructed.  Woodruff Construction of Tiffin, IA is the general contractor that will build the 134,670 square foot facility.  Planning for this project has been ongoing since the site was acquired in October 2021. The expected completion date for this project is July 2024.

The new facility will be constructed in the Crossroads Industrial Park located along Iris Street in Mt. Pleasant and will consist of warehouse space and a door shop within as well as a 5,000 square foot office space. The new facility will include covered loading and unloading in a “drive through” loading/storage area with more than one acre of space designated for outside storage.

Operating in Mount Pleasant since 1984, Mid-Am Building Supply is a “two-step” building material distributor that sells building materials to lumber yards and big box stores. With five warehouses in four states, the company distributes products across the Midwest that include shingles, doors, insulation, siding, windows, decking, door locks, fasteners and other building products.

Henry County Engineer’s Office will have a lane closure on 235th Street (Business 34) on Wednesday March 29th. Please use caution as the road will not be closed but expect delays with flaggers.  If you have questions or concerns you can contact the Engineer’s office at 319-385-0762.

Increased operating costs and lack of state funding lead to painful decision Mount Pleasant, IA – March 28, 2023 — Iowa Wesleyan University’s Board of Trustees unanimously voted today to close the university at the end of this academic year. The decision is based on a combination of financial challenges – increased operating costs due to inflationary pressures, changing enrollment trends, a significant drop in philanthropic giving, and the rejection of a proposal for federal Covid funding by Governor Reynolds. This decision follows an intensive analysis of Iowa Wesleyan’s financial operations and considerable exploration of all feasible strategic alternatives. The vote to close comes as the
university has been experiencing unprecedented enrollment growth, improvements in student retention, and success with efforts to address economic and workforce development challenges throughout Southeast Iowa, including the formation of a unique partnership with Southeastern Community College. While the university’s overall enrollment has increased post-pandemic, it is
still not yet at a threshold needed for financial stability. “It is with deep sadness that we announce the Board of Trustees has made the heartbreaking decision to close our beloved Iowa Wesleyan after 181 years as an educational pillar in this community,” said Christine Plunkett, president of Iowa Wesleyan University. “Our focus is now on assuring our over 850 students have a smooth transition to another educational opportunity.” Iowa Wesleyan has secured four teach-out agreements with William Penn University, Upper Iowa University, University of Dubuque, and Culver-Stockton College so students can complete their degrees. The teach-out plans ensure the students can complete their program on time and for a comparable cost to Iowa Wesleyan. Additional teach-out agreements may be added. “We know our action will be felt deeply by all Iowa Wesleyan University faculty, staff, students, families, alumni, donors, Mount Pleasant, and the entire region of Southeast Iowa,” said Robert Miller, chairman of the Board of Trustees. “Like many colleges and universities nationally that
have recently announced closure, IW has been confronted with many headwinds including increasing operating costs, declining numbers of high school graduates nationally and insurmountable inflationary pressures. We have worked tirelessly to find solutions at all levels
but to no avail.” Iowa Wesleyan submitted a proposal for money from the federal American Rescue Plan Act (ARPA) funds that were provided to the state of Iowa. As a primary employer in Southeast Iowa that provided a wide range of educational, economic, workforce, social, and cultural opportunities, Iowa Wesleyan requested $12 million from Governor Kim Reynolds aligned with
her Empower Rural Iowa Initiative. “As a higher education institution that serves rural Iowa, we are disappointed in the lack of state support for this effort. All our indicators have been trending in a positive direction, but we needed funding to buy some additional time,” says Miller. “We are just heartbroken.”When the university closes on May 31, the physical campus will become the responsibility of the
United States Department of Agriculture.