Idaho Land Board approves selling $20 million-worth of commercial properties

Posted at 1:05 PM, Sep 20, 2016
and last updated 2016-09-20 15:17:29-04

The Idaho Land Board voted Tuesday to put nine state-owned commercial properties -- worth about $20 million -- up for auction, likely in early December.

The unanimous vote by the five-member board is part of the board's new strategic reinvestment plan that calls for using money from the sale of commercial real estate and residential cottage sites to buy timberland and agricultural land.

But the board also voted unanimously to hold off selling a tenth commercial property worth about $1 million after Secretary of State Lawerence Denney said it could be in the state's long-term financial interest to retain ownership of the building that's about a block from the Idaho State Capitol Building.

The board instead directed the Idaho Department of Lands to evaluate the financial benefits of holding onto the property compared to selling it.

(by Associated Press)