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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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