June 13, 2011
Sealed bid public auction July 15 for commercial lease of state trust lands in Franklin County
12.27 acres: Parcels at interchange of I-182 and Road 68, in Pasco
OLYMPIA – On July 15, 2011, the Washington State Department of Natural Resources (DNR) will hold a sealed-bid public auction on a lease for commercial development on two state trust land parcels. The properties are located at the southeast corner of the interchange at Interstate 182 and Road 68 in Pasco, Franklin County, Washington. Together the parcels contain about 12.27 acres or 534,481 square feet. Both parcels are zoned ‘C-1, Retail Business District’ by the City of Pasco.
Who: State DNR
When: DEADLINE: Sealed bids for Application No. 39-087071 must be received by 1:00 p.m., July 15, 2011, by the Washington State Department of Natural Resources, Asset and Property Management Division in Olympia, 4th Floor, Natural Resources Building, 1111 Washington Street SE, Olympia, WA 98504-7016
What: Terms of 12.27-acre commercial lease of trust lands in Pasco:
Fifty-five (55) year lease, to commence September 1, 2011. The minimum annual rent is $171,000 plus leasehold tax currently 12.84 percent of the rent. The annual rent will be adjusted according to the terms of the sample lease.
Bid packet, aerial photos, legal description, etc: Link to Materials on DNR website.
DNR –managed state trust lands
The state Department of Natural Resources manages 5 million acres of state-owned lands. Of these, 3 million acres are state trust lands that provide revenue for specific beneficiaries and benefits for the public. Revenue helps fund construction of kindergarten through 12th grade public schools statewide, state universities and other educational institutions and prisons, and helps fund services in many counties as well as contributing to the state General Fund.
Revenue-producing activities on state trust lands include harvest of timber and forest products, leasing of agricultural lands (orchards, vineyards, row crops, dryland crops, and grazing), mineral leases, and leasing of communication sites, wind farms and other commercial properties.
Media Contact: Jane Chavey, Senior Communications Manager, 360-902-1721, email@example.com