The Terrace Hill Foundation, in partnership with the Terrace Hill Commission, is embarking upon a capital campaign to raise more than $1.6 million for renovations at the Iowa governor’s residence and to establish an endowment for the property, Gov. Terry Branstad announced yesterday. Former Lt. Gov. Sally Pederson and Iowa businessman Bruce Rastetter will co-chair the effort. Renovations at Terrace Hill will include replacement of the heating, ventilation and air conditioning system with a “green” geothermal system, new windows, renovation of the commercial kitchen, modifications to the elevator and much-needed exterior paint and maintenance, the foundation said in a press release. The historic mansion was a gift to the state from the Hubbell family in the early 1970s.