FIRE: UF's Insurance Not Enough To Rebuild
When a fire burned down a University of Florida building in the 80s- the state stepped in to help pay for what was rebuilt. That may not happen now-- as the university looks to rebuild what was lost on Tuesday's fire.
The 25-year-old Austin Cary Conference building in northeast Alachua county was destroyed on Tuesday.
UF's insurance is only going to put a small dent in what it's going to cost to rebuild.
All UF buildings are covered through a state trust fund- a pay-back system that officials say will not be enough to rebuild the structure.
"We've looked at what it would do to go out and insure for replacement value, and the costs are significant more than what we pay into this trust fund," said William Properzio, Ph.D., UF Environmental Health & Safety Director.
Properzio says they'll get back $127,000 for the conference center. Meanwhile, the Department of Agriculture has two officers investigating the fire.
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