BOISE, Idaho (AP) — The Idaho Land Board has taken a step toward selling off endowment commercial real estate holdings.
The board voted unanimously Tuesday to approve a process for hiring an adviser to sell 21 commercial properties worth about $25 million, all but a handful in Boise.
The plan follows a report by a consulting firm advising the board to sell the commercial real estate and hire an expert for guidance.
The board’s dabbling in commercial ventures in previous years that could compete with private businesses drew election-year criticism for some of its members.
Gov. C.L. “Butch” Otter, Attorney General Lawrence Wasden and State Controller Brandon Woolf weathered that criticism.
Commercial property is overall a small fraction of the Idaho endowment land assets of $1.4 billion.