Recent IDL News Releases
VIEW ALL NEWS RELEASES ON IDL'S WEBSITE
Current News Coverage
Chief Investment Officer, 9-1-23
The Idaho Endowment Fund Investment Board reported a gross return of 10.89% for the fiscal year that ended June 30, just edging its target benchmark’s 10.87% return, according to its quarterly performance review. The returns raised the fund’s asset value to $3.12 billion from $2.87 billion at the same time a year earlier.
The investment board, which manages the proceeds generated by Idaho’s endowment lands, reported a three-year return of 7.74%, a five-year return of 7.20% and a 10-year return of 7.94%, compared with its benchmark’s returns of 7.46%, 6.90% and 7.68%, respectively, over the same time periods.
As of June 30, the fund’s asset allocation was 38.9% domestic equity, 22.7% domestic fixed income, 19.1% international equity, 9.5% global equity, 9.3% real estate, 0.4% cash and 0.1% equitization.
According to the performance review, performed by investment consultant Callan, total equities returned 17.5% for the investment portfolio during the fiscal year and 6.9% over the final quarter. U.S. equities led the way, surging 19.4% and 8.7%, respectively, over the fiscal year and quarter, while international equities appreciated 12.7% for the year and 2.7% during the quarter.
Fixed-income investments declined 0.2% for the year and 0.6% during the quarter, while real estate, which is lagged by a quarter, underperformed over the trailing year and returned 1.4% during the fiscal year and 0.2% for the quarter.
Meanwhile, the Idaho Board of Land Commissioners, which oversees the endowment fund investment board and the Idaho Department of Lands and which consists of the governor and several other state officials, recently announced it will distribute a record $103.2 million to endowment beneficiaries—mostly public schools, colleges, universities and veterans’ homes—in fiscal 2025. The previous record was the $100.3 million distribution slated for fiscal 2024.
“We were pleased with the endowment fund’s investment returns in Fiscal Year 2023 despite efforts by the Federal Reserve to fight inflation,” Chris Anton, the Idaho Endowment Fund Investment Board’s manager of investments, said in a release. “Financial markets experienced a volatile year, but the U.S. economy has remained very resilient.”
READ MORE
Settlement reached in lawsuit over denied Trident Holdings’ McCall land swap proposal
Boise Dev, 8-23-23
A long-running lawsuit over a failed development proposal in Valley County is over.
In June, attorneys for Boise developer Trident Holdings and the Idaho Department of Lands reached an agreement to end a dispute over the denial of a complex proposal to swap 26 square miles of land around Payette Lake to make way for development on state-owned forests in the area. The land swap would have required the approval of the Idaho Land Board, which turned down the idea in 2021.
This denial triggered a petition for judicial review from Trident Holdings. But, after a few hearings in late 2021, the case remained dormant by the winter of 2022.
As BoiseDev reported, the Idaho Attorney General’s Office asked the court to dismiss the suit over inactivity earlier this year. The state said the court wrote to David Arkoosh, the attorney for Trident, in the spring of 2022 looking to set a hearing date, but that Arkoosh did not reply.
Judge Samuel Hoagland ruled against the state in May. He said while Arkoosh should have set a date for the hearing and it was his responsibility to keep the case moving forward since it was his client who filed the suit, the state didn’t sufficiently prove they were harmed by the delay in the case, and he allowed it to move ahead.
However, Hoagland denied Trident Holdings’ request to conduct a deposition, add more information to the record in the case, and more time. Hoagland’s order said the requests were not filed by the deadlines set by the court, and Trident provided “no reason” why it wanted an extension well after the deadline.
“Arkoosh attested that he was ‘personally aware’ of certain records that have not been included; however, he provides no example or detail of what these records are and how they are material to the instant proceeding.”
By the 15th of June, Trident Holdings and the Idaho Department of Lands filed paperwork to dismiss the case, with both sides covering their own attorneys’ fees.
READ MORE
Idaho Department of Lands Auctions Four Priest Lake lots for $6,006,000
Big County News, 8-26-23
COEUR D'ALENE - The Idaho Department of Lands (IDL) sold four endowment-owned lakefront lots at Priest Lake for deeded ownership during a public auction. One unleased lot did not sell.
The public auction generated $6,006,000, $1,012,000 over the appraised value. Of the four properties sold, two had competitive bidding, and two had only one bid. The competitive bidding resulted in a 120% overall increase above the appraised value.
All four leased properties auctioned today had homes on them. The land is owned by the public school endowment beneficiary, and the cabins and other improvements on the ground are owned by leaseholders as personal property. The auction was for the land only.
Three lessees successfully purchased their split estates. The winning bidder for the fourth was a non-lessee who will pay the amount bid for the land and the appraised value of the personal property, which will be reimbursed to the lessee.
The Idaho Constitution requires a public auction to sell state endowment trust lands, and IDL can accept no less than the appraised value of the properties.
Under the direction of the State Board of Land Commissioners (Land Board), IDL manages more than 2.5 million acres of state endowment trust land under a constitutional mandate to maximize long-term financial returns to public schools and several other State of Idaho institutions. The Land Board is comprised of Idaho’s governor, secretary of state, attorney general, state controller, and superintendent of public instruction.
In 2010, the Land Board approved a plan to divest the state’s ownership of cottage sites over time. The Land Board authorized IDL to offer the remaining residential lake lots for auction through 2039. When available, IDL will be auctioning un-leased lots at both lakes.
Including today’s auction, 485 cottage sites have been sold, 329 lots at Priest Lake (304 leased and 25 unleased) and 156 lots at Payette Lake (129 leased and 27 unleased) for a total of $259,704,625 for the endowments. There are currently 30 remaining leased lots at Priest Lake and 18 at Payette Lakes.
Upon the transaction's closing, the funds from the land sales will be deposited in the “Land Bank.” They may be used to purchase new endowment land in Idaho or may go into a Permanent Fund to continue earning returns for the endowment beneficiaries. In May 2016, the Land Board approved the Strategic Reinvestment Plan and will consider strategic land acquisitions with the proceeds from the sale of cottage sites and commercial properties.
READ MORE
FIRE COVERAGE
Idaho’s Not Out of the Woods Yet; Wildfire Risk Remains High for Most of State
Big County News, 9-1-23
BOISE - With hunting seasons opening across the state and the Labor Day weekend on Idaho’s doorstep, Idaho Department of Lands officials and the non-profit group Idaho Sportsmen have an essential message for outdoor enthusiasts.
IDL Director Dustin Miller and Idaho Sportsmen Executive Director Benn Brocksome agree that fire season isn’t over yet, and caution is needed because the fire risk for most of Idaho remains high or very high.
“Although fire restrictions across Idaho have been lifted due to cooler weather and rain, we must remain vigilant and remember that with the privilege of lighting a campfire comes the responsibility of putting it out, dead out,” said Brocksome.
“After rainstorms, moisture in our forests and rangelands can quickly evaporate, creating a false sense of security for people lighting campfires,” added Miller.
Both Miller and Brocksome also agree that it’s essential that you never leave a campfire unattended – that includes when bedding down for the night or even if you expect to be gone from camp for just a short time.
“Make sure you douse, stir, and repeat until your campfire is cold to the touch, every time, no exceptions,” urged Brocksome.
When pulling a trailer, ensure your vehicle is properly maintained and safety chains won’t drag. “Dragging chains or improperly maintained tires can spark wildfires along roadways,” said Miller. “When parking or making a roadside stop, remember a muffler is hot enough to ignite dry grasses, so please watch where you park.”
Beyond damaging pristine recreation areas or destroying critical wildlife habitat, a person who starts a wildfire and is found negligent can face severe financial penalties.
“We investigate the cause of every fire on the 9 million acres we protect,” said Miller. “If you start a fire negligently, under Idaho law, you may be responsible for the entire cost of suppressing the fire, which can cost millions of dollars.”
For fire prevention tips to make the most of this long weekend and hunting season, visit the Idaho Department of Lands website at https://www.idl.idaho.gov/Prevention.
READ MORE
Idaho fire restrictions lifted ahead of Labor Day weekend
Boise State Public Radio News, 8-31-23
State officials are dropping all fire restrictions in North Idaho as campers prepare for the unofficial end to summer this Labor Day weekend.
Earlier this month, the Idaho Department of Lands imposed Stage 2 fire restrictions for Benewah, Bonner, Boundary, Kootenai and Shoshone counties due to dangerously dry conditions.
The designation banned camp fires and other activities in the panhandle, including at some of Idaho's most popular parks.
State officials on Wednesday downgraded their order to Stage 1 restrictions in those counties, once again allowing campfires in established rings.
And, beginning Friday, all prohibitions will be lifted, including bans on portable charcoal grills and wood-burning stoves.
A spokesperson for the Idaho Department of Lands said the move is due to recent precipitation in the region, cooling temperatures and the availability of more resources to fight a wildfire should one ignite.
That said, people should still remain cautious and practice proper prevention techniques when building campfires. That includes ensuring nothing flammable is near the fire, never walking away from a fire while it's burning and completely drowning out the flames, embers and coals when you're done.
State officials lifted Stage 1 restrictions for parts of Central Idaho last week.
The latest federal data show little change in the northern part of the state, which is experiencing moderate to severe drought conditions. A sliver of the eastern edge of Bonner County is now considered to be in extreme drought.
Compared to the beginning of August, the abnormal dryness and moderate drought reported in eastern Idaho has abated.
Dry conditions have also eased in the central part of the state into Idaho County. The heart of the Magic Valley is still classified as abnormally dry.
Conditions are still significantly better than this time last year when 90% of Idaho was in some form of drought compared to 32% of the state today.
READ MORE
Opinion: Protect public lands from fire this Labor Day
The Jefferson Star, 8/31/23
Guest opinion by Rep. Jerald Raymond
Many of you will celebrate the last official weekend of summer enjoying Idaho’s beautiful public lands. From camping in our state parks to boating on our waterways, it’s wonderful to know we have access to so much affordable recreation close to home. As you and your family enjoy your time together this weekend, I encourage you to keep an eye on your fire pits, trailer chains and other potential ignition sources for wildfires.
The fire season started a little slow this year. But the uptick in recent weeks suggests we still need to practice caution. The Idaho Department of Lands reports that for land protected by IDL, 109 fires were caused by humans, 66 by natural sources and 82 remain undetermined. Altogether, these fires burned just over 2,500 acres. Our options for fire prevention are limited when it comes to fires caused by lightning strikes, but I’d argue that those 109 fires didn’t need to happen. With some care and prevention, most fires can be stopped before they start.
In addition to these fires, other agencies are managing 10 major fires on lands outside of IDL’s protection. The East Fire in the Boise National Forest that started mid-August remains only 59% contained after consuming 3,313 acres. The cause remains undetermined. As of this morning, the Ridge Creek Fire near Hayden Lake has burned 4,474 acres to date. Crews report containment at 49% with help from overnight rainfall. However, this human-caused fire did lead to the injury of a firefighter from a falling tree limb.
The Hayden Fire in the Salmon-Challis National Forest started in July and burned 24,706 acres to date. It required mandatory evacuation orders for a period, and now officials need to assess what restoration can happen in the area. Heavy rain helped crews gain control of the blaze. The cause remains undetermined, with full containment of the fire projected by October. In this fire and the Ridge Creek Fire, unexpected rain made a difference, something fire crews can’t always expect.
These examples highlight why protecting our public lands is so critical in the final days of summer. Evaluate the conditions carefully if you’re considering any controlled burns. If you have dry vegetation or other fuel around your property, take the time to reduce bushes and small trees that can take a small fire and spread it to treetops. If you need a campfire, keep the fire pit clear, attend it at all times and extinguish it thoroughly before you head home.
In the rush to get things done and have a good time, it’s easy to assume the fire risk will remain low. But as we’ve seen all too many times, it only takes one spark in the right place at the right time to create a devastating blaze. Let’s finish summer on a high note and protect our public lands.
Rep. Jerald Raymond represents District 31 (Clark, Fremont, Jefferson and Lemhi counties) in the Idaho House. He is also the vice chair of the House Agricultural Affairs Committee.
READ MORE
Orofino fire now 100% contained
Clearwater Tribune, 9-1-23
OROFINO — The Hospital Fire that destroyed six homes and other structures here is now considered 100% contained, the Idaho Department of Lands announced Thursday afternoon.
The fire, which ignited Tuesday afternoon near State Hospital North, quickly blazed through the Wixson Heights neighborhood, destroying six homes and forcing residents to evacuate.
Rain helped fire crews tamp down the blaze, and on Thursday management of the fire was transferred from a Type 3 Incident Commander to the local district. Mop-up operation are underway.
The cause of the fire is still being investigated.
READ MORE
Sharable Social Media Posts
Practice Campfire Safety
Posted September 1, 2023
SHARE THIS POST NOW ON FACEBOOK
Idaho’s Not Out of the Woods Yet, Wildfire Risk Remains High for Most of the State!
Learn More: https://loom.ly/EKD6Myk
#IDLFireInfo
VIEW THE SOCIAL MEDIA ARCHIVE ON IDL'S WEBSITE
Social Media Statistics
Facebook Account Overview
July 24 - Aug 23
Twitter Account Overview
August 5 - September 1
|
