Actions

Idaho to continue buying timberland and farmland

KIVI-Default-Image_1280x720.png
Posted at 12:36 PM, Jul 18, 2017
and last updated 2017-07-18 14:36:35-04

Idaho officials have decided to continue buying timberland and farmland -- to generate revenue for public schools -- following a financial consultant's review of the state's reinvestment plan.

The Idaho Land Board voted 4-0 Tuesday to approve the plan with a few modifications, as it seeks to generate money from the state's 2.4 million acres of endowment land.

The reinvestment plan involves $76 million from the recent sales of commercial and residential real estate, with more money expected from future sales.

About $45 million of that belongs to the public schools endowment; the rest is split between two smaller endowments.

Financial experts say more analysis is needed to know if locking in the smaller endowments with timberland and farmland is prudent.

By Keith Ridler
Associated Press