I-90 Lake Place B Exchange
   

DNR is proposing an exchange of 3.26 acres of state trust property located east of Issaquah, for a property of equal value that would be provided by RCO Capital. This exchange involves one DNR trust beneficiary, the Common School trust (benefits K-12 school construction account). The property for potential acquisition in this land exchange is a 4.09-acre commercial property located in Bellingham. The current use of this property is a Haggen Grocery Store and parking lot.
 

Purpose

DNR objectives for this proposed exchange is to strengthen public trust lands and to provide economic, ecologic, biological, and social benefits to the State of Washington and its citizens. Providing revenue to support schools, this commercial property will provide long term revenue for the Common School Trust for many years.
 

Details

 

Future public hearing

DNR will schedule a hearing concerning this land exchange at 5:30 p.m. Wednesday, December 14, 2023, at the Mount Baker Room, Four Points Sheraton Hotel, 714 Lakeway Drive, Bellingham, WA 98229. Public comment is welcome at the meeting, or it can be submitted via email to exchanges@dnr.wa.gov or in writing through December 28; attendance at the meeting is not mandatory to submit comment. All prospective meeting attendees are asked to stay home if they have a fever, cough, shortness of breath or difficulty breathing, loss of taste or smell, or exposure to someone with a confirmed case of COVID-19.
 

Project status

DNR and RCO Capital are in the early phase of exploring this potential commercial exchange. The final DNR decision regarding this land exchange will be made by the Board of Natural Resources at one of its scheduled meetings after public input is received, parcel valuations are completed, and an exchange proposal is presented to the Board of Natural Resources.