At its regular monthly meeting earlier this week, the state Board of Natural Resources approved two transactions involving state trust land:
Warden 16 Direct Transfer. Grant County Port District #8 asked to purchase 218 acres of Common School trust property, part of which is within the city limits of Warden in Grant County. A portion of the parcel is already zoned for light industrial use. The appraised value is $1,145,000. The Board agreed to sell 111 acres now for $525,000 in cash, and sell an additional 107 acres for $620,000 on a three-year contract. The interest rate on the payments will be 6 percent, which is the minimum rate set by law for sales by real estate contract by DNR. The property would revert to the State if the Port defaulted on the purchase The funds will be used to buy other lands for the Common School trust.
Green Mountain 20 Trust Acquisition. Nineteen acres of forestland in Kitsap County will be acquired by the Common School trust. DNR will manage the land, which is primarily timbered with 25-year old Douglas fir, as a working forest. The property also contains a small communication site that generates about $7,800 per year in lease revenue. The land, which is an in-holding in the Green Mountain State Forest, is being purchased from a willing private seller. The purchase price of $170,000 comes from a fund dedicated to replacing trust land, including the Common School Trust.
DNR manages nearly 1.8 million acres of Common School trust lands for revenue to support public school construction projects statewide.
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