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Spokane, Washington  Est. May 19, 1883

Eye On Boise

School endowment has made $7.5M so far

By my calculations, the state's public school endowment has made $7,555,000 so far today at the auction of Priest Lake cabin sites. That's the amount that's been bid just for the land; the successful bidders were all the current lessees, so they already own the buildings on the property. But if anyone else gets a high bid, they must pay the current lessee appraised value for the improvements, which in the first batch ranged in value from $45,760 to $1.7 million, on top of the cost of the land.

The first 16 of 60 properties have been auctioned so far; three more groups are still set for auction, at 3 p.m., 5 p.m. and 7 p.m., all Pacific time.

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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