The Land Bank exchanges will create new revenue streams for the Common School Trust while transferring lower-performing properties to the Land Bank
information released; photo courtesy Okanogan County Tourism – Tiffany Mt.
The Washington State Board of Natural Resources approved a slate of land transactions that will allow the Department of Natural Resources to provide ongoing revenue for school construction at its April meeting.
The Parcel W exchange transfers 40.95 acres in rural Okanogan County from supporting the Common School Trust, which supports K-12 education statewide, into DNR’s Land Bank to be considered for future public auction. The terrain is steep and mountainous with limited income potential for the Trust.
The Crab Creek exchange transfers 9.75 acres in Lincoln County from supporting the Common School Trust into DNR’s Land Bank. Moving the property to the Land Bank will allow DNR to facilitate a direct transfer to the owner of the properties on the lot, who is currently a DNR tenant.
The Jones Creek exchange transfers 40.34 acres of a 641-acre parcel in Clark County from the Land Bank to support the Common School Trust. The parcel will provide increased income opportunities for the Trust through timber value.
The Parcel H exchange transfers 40 acres in Okanogan County from the Land Bank to support the Common School Trust. The parcel had previously been managed for the Common School Trust and includes a grazing lease.
The transfers equate to an equal in value exchange between the Land Bank and the Common School Trust, with 29.64 acres added to the Common School Trust.
The Land Bank is a holding area for desirable properties acquired by DNR waiting to become trust lands, and former trust lands waiting to be sold.
Maps and photos of the parcels involved in the proposed transactions are available at dnr.wa.gov/about/boards-and-councils/board-natural-resources.
