BOISE -- The Idaho Land Board rejected a plan to exchange 69 cottage sites on Priest and Payette lakes for commercial property worth $25.5 million after foes questioned the accuracy of the appraisals.
Board members including Gov. C.L. "Butch" Otter voted Tuesday to dump two planned swaps.
One included 58 cottage sites owned by Idaho's endowment fund on the two lakes for three commercial buildings in Idaho Falls occupied by an Idaho National Laboratory contractor.
The other swap included 11 cottage sites on Payette Lake, to be exchanged for a Nampa office building.
Department of Lands officials said the swaps would boost endowment earnings for Idaho public schools.
But Rep. John Vander Woude criticized appraisals for the properties as inflated.
The Department of Lands may resurrect the proposals after gathering more information.