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Eye On Boise

Tue., Feb. 18, 2014, 4:48 p.m.

Land Board votes to suspend all commercial property acquisitions

Idaho’s state Land Board voted unanimously today to suspend commercial property acquisitions for the state’s endowment trust, following the recommendation of a six-member working group chaired by Secretary of State Ben Ysursa and including state Controller Brandon Woolf.  “Through this working group the Land Board will be able to develop a new whole-trust management model that is consistent with modern trust management practices and Idaho’s statutes and constitution,” Woolf said in a statement; you can read the board’s full announcement here.

While the board works on its new plan, it will continue to consider acquiring non-commercial properties for the purposes of getting access to current endowment lands or “blocking up” ownership, where endowment ownership is in a checkerboard pattern with other ownership. The working group is planning a “comprehensive review” of the state’s investment strategies for endowment lands.

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Betsy Z. Russell
Betsy Z. Russell joined The Spokesman-Review in 1991. She currently is a reporter in the Boise Bureau covering Idaho state government and politics, and other news from Idaho's state capital.

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