Idaho to Auction 38 Lots Near Priest Lake
SPOKANE, Wash. (AP) — Idaho is putting up 38 Priest Lake lots for auction amid a push to remove the state from the business of leasing the land to cabin owners.
The Spokesman Review reports proceeds from renting lakefront land had gone toward an education endowment, but disagreements over fair market value and getting a maximum return for the schools prompted the sales. A process once marked by lawsuits, state lands department director Tom Schultz says the program is highly successful.
Cabin owners volunteered to have an opportunity to buy the land, and a lottery set the order for auctions over several years. The 126 lots that have already been sold at Priest and Payette lakes generated over $52 million for the endowment fund that mostly goes toward supporting schools.