FOR IMMEDIATE RELEASE
October 3, 2013
State Natural Resources Board approves farmland purchase
designed to boost school construction revenue
Franklin County orchard land acquisition repositions assets to provide income for trust beneficiaries
OLYMPIA – At its regular monthly public meeting Tuesday, the Board of Natural Resources authorized the purchase of 817 acres of irrigated orchard land 15 miles northeast of Pasco in Franklin County. Following the purchase, the property will be leased to its current owner, Stemilt Growers, headquartered in Wenatchee. Annual lease revenue of nearly $400,000 from the property will be used to support public school construction statewide.
Accompanying the transaction is the $11.1 million sale to Stemilt Growers of DNR-owned irrigation equipment and other infrastructure on two other parcels of state trust land leased for agriculture in southeast Washington, which more than covers the cost of the purchase.
“The state’s public school beneficiaries stand to financially gain as this prime, irrigated orchard land will produce a steady flow of revenue to support education for years to come,” said Peter Goldmark, Commissioner of Public Lands.
DNR… caring for your natural resources
Administered by Commissioner of Public Lands Peter Goldmark, DNR manages more than 5.6 million acres of state-owned forest, range, commercial, agricultural, conservation, and aquatic lands. More than half of these lands are held in trust and produce income to support public schools, universities, prisons, and other state institutions. Lands managed by DNR provide other public benefits, including outdoor recreation, habitat for native fish and wildlife, and watersheds for clean water.
Media Contact: Bob Redling, Senior Communication Manager, 360-902-1149, email@example.com
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