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Idaho could buy timberland, farmland

Posted at 1:48 PM, Mar 15, 2016
and last updated 2016-03-15 15:48:09-04

BOISE, Idaho (AP) -- Idaho will have $160 million to invest from the sale of commercial real estate and cottage sites over the next five years and a financial consultant says it should be used to buy timberland and farmland.

Idaho Gov. "Butch" Otter and Secretary of State Lawerence Denney say they like that advice because it could mean better financial security for the institutions, mainly public schools, that benefit from the state's endowment lands.

The consultant with Callan Associates told the five-member Idaho Land Board on Tuesday that the board will likely not have the opportunity again to have so much money available to buy land.

The Idaho Department of Lands is taking public comments on the draft reinvestment plan through April 15.