Idaho Land Board Approves Sale Of Commercial Property

Feb 16, 2016

The Idaho Land Board on Tuesday approved selling most of the commercial properties owned by the Idaho Department of Lands as part of a plan to get rid of holdings that had become a political liability for some of its members.

The board voted 5-0 to sell 11 properties in Boise, three in Idaho Falls and one in Heyburn worth about $25 million.

A financial consultant says selling the properties at a time when real estate prices are high benefits the state more than holding onto them.

Attorney General Lawrence Wasden says that means the board is meeting its constitutional requirement to maximize profit over the long term.

Some board members in the last election faced criticism from challengers who contended state-owned commercial property unfairly competes with private businesses.