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State auctions Payette Lake cabin lots for $7 million

Idaho Business Review
By: Teya Vitu
November 20, 2015

A fifth auction of state-owned cabin lots at Payette Lake on Nov. 13 netted the Idaho Department of Lands $6.98 million. The money from the auction will be distributed to State Hospital South, a psychiatric inpatient treatment center in Blackfoot, and to teacher education programs at Idaho State University and Lewis-Clark State College.

The auction at the Boise State University’s Stueckle Sky Center involved the sale of 20 lots, most of them with privately owned cabins. These auctions typically end up with cabin owners gaining ownership of the land under their buildings that many have leased for decades.

The two highest winning bids of $1.625 million and $1.215 million were for… Continue reading

Idaho auctions 20 Payette Lake lots for $7 million

Idaho Department of Lands  
November 13,2015  

Idaho auctions 20 Payette Lake lots for $7 million (BOISE) – The Idaho Department of Lands (IDL) auctioned 20 lots at Payette Lake for deeded ownership at a public auction in Boise today. The land sales generated $6,982,500 for the endowment fund that supports State Hospital South in Blackfoot and teacher education programs at Idaho State University and Lewis-Clark State College.  Seventeen of the lots sold today are under lease.  Most of the leased lots in today’s auction have cabins on them.  The land is owned by the State of Idaho and the cabins and other improvements on the land are owned by the leaseholders as personal property.  … Continue reading

The Spokeman-Review – 8 Priest Lake cabin sites

The Spokesman-Review  
September 28, 2015
by Betsy Z. Russell  

One Priest Lake cabin site, an acre and a half of lakefront land with a rustic, A-frame cabin on it, drew bidding that drove the price 50 percent above the appraisal for the land, up to $760,000.  Another saw bids push the price $33,000 higher than the appraisal, while another cabin site drew no bids at all.  But when the bidding was over on Saturday, Idaho Department of Lands officials said they were pleased with the results – eight of nine lakefront cabin sites were auctioned off, and the state school endowment earned $4.2 million.  “I think we received good value for the lots that we… Continue reading

Idaho auctions 8 UNLEASED Priest Lake lots for $4.2M

Idaho Department of Lands  
September 26, 2015

The Idaho Department of Lands (IDL) auctioned eight lakefront lots at Priest Lake for deeded ownership at a public auction in Coeur d’Alene today.  Bidding on the lands generated $4,239,000 for the endowment fund that supports Idaho’s public school system.  

Six of the lots auctioned had cabins on them, but no current cabin owners bid on the lots because the lessees (cabin owners) of those lots discontinued their land leases with the State of Idaho and agreed to sell their cabins to the auction winner.  The auction was for land only, but winning bidders will pay the former lessee for the appraised or lesser agreed to value of the… Continue reading

Idaho auctions 35 Priest Lake lots for $15.6 million

Idaho Department of Lands  
August 28, 2015

The Idaho Department of Lands (IDL) auctioned 35 lots at Priest Lake for deeded ownership at a public auction in Coeur d’Alene today.  

The land sales generated $15,652,500 for the endowment fund that supports Idaho’s public school system.

All of the lots sold today are leased and have cabins on them.  The auction for leased lots is voluntary because the lessees – the individuals and families who lease the lots from the State but own the cabins and other personal property on the land – nominated the lot they lease for auction.  

All 35 of the current lessees participating in the auction submitted the winning bid for the land… Continue reading

Idaho auctions 32 Payette Lake lots for $13,470,000

Idaho Department of Lands
January 31, 2015

The Idaho Department of Lands (IDL) auctioned 32 lots at Payette Lake for deeded ownership to the highest bidder at a public auction in Boise today.  The land sales generated $13,470,000 for the State of Idaho endowment funds that support Idaho’s public school system, State Hospital South in Blackfoot, and teacher education programs at Idaho State University and Lewis-Clark State College.

Twenty-nine of the lots auctioned today are leased and have cabins on them. The auction for leased lots was voluntary because the lessees – the individuals and families who lease the lots from the State but own the cabins and other personal property on the land – nominated the lot they… Continue reading

Corbett Bottles Auctions Payette Lake Cottage Sites

Idaho Statesman  
January 31, 2015  
By Sven Berg – sberg@IdahoStatesman.com  

State auctions 32 properties on Payette Lake, gains $13.47 million

Twenty-nine of the lots were sold to the people who have been leasing them from the Department of Lands.  

In 2010, Idaho’s Land Board approved a plan to sell off most of the 500-plus cottage sites the state Department of Lands controls on Payette and Priest lakes.  The goal of the Land Board, made up of the governor, state attorney general, superintendent of public instruction, secretary of state and state controller, was to put proceeds from the sale of the lake properties into investments that generate more revenue.  The department has since sold 127… Continue reading

Payette Lake cabin lot auction set for Jan. 31

The Idaho Department of Lands will auction off 35 state-owned cabin lots along the Payette Lake shoreline on Jan. 31 at the Riverside Hotel in Boise.
The properties, 29 with privately owned cottages, will be auctioned in two sessions, one starting at 1 p.m., the second at 3 p.m.
The Payette Lake Voluntary Auction is the third such auction at Payette Lake, where the Land Department is seeking to divest itself of cottage property.  In the past, cottage owners have nearly always placed the winning bids for the land under their structures.
The auction is open to the public, but if someone other than a cottage owners places a winning bid, that person must also purchases the cottage at… Continue reading

Land Board announces order of lake lots

Idaho Department of Lands  
December 4, 2014

One hundred eighty leaseholders of State owned lake lots at Payette Lake and Priest Lake locked in spots today to participate in auction sales of the lots they lease over the next three years.  The lots known as “cottage sites” are owned by the State and have been leased to individuals and families who own the cabins on top of the lands as personal property.  The State Board of Land Commissioners (Land Board) approved a plan in October to auction 180 more leased lots for ownership before the end of 2017.  

The Idaho Department of Lands (IDL) announced the order of the lots to be auctioned at a public… Continue reading

Auction date set for Payette Lake cottage sites

The Idaho Department of Land has set Jan. 31, 2015 as the auction date for 35 state-owned lots that have privately owned homes at Payette Lake.  Twenty-nine lots have privately owned cottages, and six lots have no cottages.  The Payette Lake Voluntary Auction of Ownership will start at 1 p.m. at the Riverside Hotel, 2900 W. Chinden Blvd.

This is the third such auction at Payette Lake, where the Land Department is seeking to divest itself of cottage property.  In the past, cottage owners have nearly always placed the winning bids for the land under their structures.  But the auction is open to the public.  If someone other than a cottage owner places a… Continue reading

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