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Eye On Boise

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 covers Idaho news from The Spokesman-Review's bureau in Boise.

Named best state-based political blog in Idaho for 2013 by The Fix

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