Post by Logan on Feb 18, 2016 3:58:26 GMT -6
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 12 properties in Boise, three in Idaho Falls and one in Heyburn worth about $25 million.
A financial consultant, CenturyPacific, said selling the properties at a time when real estate prices are high benefits the state more than holding onto them. The consultant said the current market value is 15 percent more than if the Land Board retained the properties.
Attorney General Lawrence Wasden said that means, in approving the sale, the board was meeting its constitutional requirement to maximize profit over the long term.
Read more here: www.idahostatesman.com/news/business/real-estate-news/article60712526.html
The board voted 5-0 to sell 12 properties in Boise, three in Idaho Falls and one in Heyburn worth about $25 million.
A financial consultant, CenturyPacific, said selling the properties at a time when real estate prices are high benefits the state more than holding onto them. The consultant said the current market value is 15 percent more than if the Land Board retained the properties.
Attorney General Lawrence Wasden said that means, in approving the sale, the board was meeting its constitutional requirement to maximize profit over the long term.
Read more here: www.idahostatesman.com/news/business/real-estate-news/article60712526.html