Idaho Land Board looks to invest $240 million

Posted at 1:31 PM, May 21, 2019
and last updated 2019-05-21 15:31:49-04

BOISE — Idaho Gov. Brad Little, Attorney General Lawrence Wasden and a financial expert will examine how the Idaho Land Board should invest $240 million from the sale of hundreds of residential home sites as well as a number of commercial real estate properties.

Irving Littman, a retired vice president and treasurer at Boise Cascade Corporation, was named Tuesday as the third member of the committee to join the two Republican office-holders.

A financial adviser has already told the Land Board to use the money to buy timberland and farmland.

But at least one timber company concerned about competition and some counties worried about losing property tax income have voiced concerns about that plan.

The Land Board manages about 3,800 square miles of state land and is constitutionally mandated to get the greatest return on that land over the long run.

(by Keith Ridler, Associated Press)