FOR IMMEDIATE RELEASE
February 18, 2009
Auction of state trust land in Grant County planned
Five agricultural properties to be sold to highest bidders at auction on February 26 in Ephrata
OLYMPIA – Five parcels of Common School Trust agricultural land in Grant County will be sold separately to the highest bidders at a public auction later this month. The auction will begin at 1 p.m., February 26, in the Grant County Courthouse Annex, Ephrata, Washington.
The parcels range from 20 acres to 111 acres in size; all are dry farmland with no water rights. The minimum bid accepted is the appraised value.
The properties and locations are:
• Adams Road – 20 acres. Four miles southeast of Quincy. Appraised value: $42,000.
• Potholes A – 75.7 acres. Twelve miles northwest of Othello. Appraised value: $38,000. (Property has no access to a public road).
• Potholes B – 111 acres. Eleven miles northwest of Othello. Appraised value: $124,000.
• Road 6 & G – 20.3 acres. Ten miles southeast of Quincy. Appraised value: $43,000.
• Wheeler East – 23.44 acres. One half mile north of Wheeler. Appraised value: $195,000. (The successful bidder must also pay $80,000 for the current lessee’s interest in crop storage buildings on the property).
The auction will be conducted by an open oral bidding process. Bidders must provide the Washington State Department of Natural Resources (DNR) with an advance bid deposit in cash or a cash-equivalent (such as a certified check). Buyers also must pay transaction costs.
Maps, descriptions, and other details about the properties and auction process are on the DNR website: www.dnr.wa.gov . Click on ‘Leasing & Land Transactions’ in the Business & Permits area to find the link to ‘Trust Lands Identified for Auction or Direct Sale.’
Auctions benefit public school construction, forestland
All of the properties going up for auction have been managed by DNR for income to the Common School trust, which builds kindergarten through 12th grade public schools statewide. The auction was approved by the state’s Board of Natural Resources earlier this year because the properties were not providing sufficient long-term trust income. Local and state public agencies were offered opportunities to buy the properties at fair market value; however, none made offers.
Auctions are how DNR sells property to private parties. An independent appraiser helped establish each property’s fair market value. Auction proceeds will be used to purchase replacement properties with greater long-term income potential for the trust.
DNR is led by Peter Goldmark who is the state’s 13th Commissioner of Public Lands and the first from Eastern Washington.
Media Contact: Bob Redling, Senior Communications Manager, (360) 902-1149, email@example.com
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