|
Boise, ID – Idaho Endowment Land is scattered across the state. Most of that land is timberlands, but there are also commercial parcels. One commercial parcel known as "Little Gowen," is located at Gowen Road and Federal Way in Boise and is currently available for a commercial ground lease.
The parcel is approximately 3.7 acres and is within Boise City limits. It appears to have a light Industrial zone designation (I-1 – Industrial: Light zone). Proposers may offer a lease for up to 49 years.
Generally, to negotiate a commercial ground lease IDL first solicits interest via a Request for Proposals (RFP). Each proposal will be wholly evaluated while keeping in alignment with Idaho’s constitution, which states endowment land is to be managed for the long-term financial return to the endowment beneficiaries. Once an RFP is awarded, the winner will be eligible to negotiate a lease with IDL for their proposal.
Idaho’s constitution also requires IDL to use a competitive bidding process when awarding leases. Once final, the negotiated lease will be opened and advertised to the public at large. The winner of the RFP and any other interested parties are provided the same opportunity to compete at auction by offering a premium bid for the right to secure the lease.
The competitive bidding process secures the highest value for the lease and generates additional funds for the beneficiaries. In this case it is the Penitentiary Fund. Learn more about Idaho Endowment Land management.
More information can be found on IDL’s commercial leasing webpage.
|
