The director of two state agencies has received approval from a panel of top state officials to buy a building and locate both agencies under one roof.
Debi Durham, director of the Iowa Economic Development Authority and the Iowa Finance Authority, received approval Monday to spend nearly $7.8 million to buy the four-story commercial office building on 10 acres.
The finance authority now rents space in the building, on the southwest edge of downtown Des Moines.
Continuing to lease space would have cost about $7.5 million over the next 10 years.
Durham has run both agencies since March 2018 and says merging them in one building allows her to align them more closely.
The finance authority oversees housing assistance and community development programs while economic development works to attract business to the state.
The Iowa Executive Council approved the plan.