AMES, Iowa (KCRG) - For the first time in more than a century, Iowa State University’s president will live off campus.

The university plans to pay president-elect David Cook a $5,000 to $8,000 monthly stipend to cover his housing costs rather than renovate the traditional presidential residence.

The Knoll, where Iowa State presidents have lived for more than 100 years, needs time consuming and expensive renovations.

“The extensive renovation would really deconstruct the building back to bare walls,” said Sean Reeder, senior vice president at Iowa State.

The university estimates full renovations could have taken two years and cost more than $6.5 million.

“It’s just not currently suitable as a private residence without significant investment,” Reeder said.

The $8,000 monthly allowance

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