Idaho officials have decided to continue buying timberland and farmland to generate revenue for public schools following a financial consultant’s review of the state’s reinvestment plan.
The Idaho Land Board voted 4-0 Tuesday to approve the blueprint with a few modifications as it seeks to generate money from the state’s 2.4 million acres of endowment land.
The reinvestment plan involves $76 million from the recent sales of commercial and residential real estate, with more money expected from future sales. About $45 millionof that belongs to the public schools endowment, and the rest split between two smaller endowments.
Financial experts say more analysis is needed to know if locking in the smaller endowments with timberland and farmland is prudent. (AP)
