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.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
P.O. Box 2160, Spokane, WA 99210
Main switchboard: (509) 459-5000 • (800) 338-8801
Newsroom: (509) 459-5400 • (800) 789-0029
Customer service: (800) 338-8801