Land Board aims to swap cottage sites for Idaho Falls properties

Land Board aims to swap cottage sites for Idaho Falls properties

Land Board aims to swap cottage sites for Idaho Falls properties

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by Associated Press

KTVB.COM

Posted on October 8, 2013 at 10:55 AM

BOISE -- Idaho land managers aim to exchange 58 lakefront cottage sites for cash and three commercial buildings in Idaho Falls, saying it will boost earnings for public schools and other institutions.

The deal is slated for discussion at next week's Land Board meeting.

The cottage sites, with 48 on Priest Lake and 10 on Payette Lake, are valued at nearly $23 million.

The Idaho Department of Land says swapping them for equally-valued property in Idaho Falls would increase cash returns by $1.2 million.

However, Idaho Reps. John Vander Woude and Grant Burgoyne have criticized the agency's aggressive expansion into commercial property -- and recently blasted it for a 2012 land exchange they argue used an inflated appraisal for the property Idaho was getting.

The department insists the 2012 appraisal was appropriate.

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