The Idaho Department of Lands is accepting lease applications for commercial land outside of St. Maries.
The Lands Area Manager, Rick Arcano, said that the IDL is currently leasing 0.03 acres of land by Lindstrom Peak, which is located around three miles south of St. Maries off off State Highway 3.
The proposed term length for the land is eight years. The land is currently leased by J&R Electronics.
The primary use is for communication, and the first year of rent will total $2060.
Mr. Arcano said that interested parties can find the applications on the Idaho Department of Lands website at idl.idaho.gov.
He said that if more than one application is submitted, an auction will then be scheduled and bids can be submitted by the applicants. Mr. Arcano said that the IDL is approached about leasing commercial land often.
"This lease was based on customer needs,” Mr. Arcano said. “We get approached about commercial land often and it is good for generating income for us. Leasing is one of the many ways IDL is able to generate money for the endowment beneficiaries. In Fiscal Year 2019, IDL brought in approximately $9.6 million of gross revenue for the endowment beneficiaries from leasing and permits.”
Mr. Arcano said that the IDL has revamped the way that it advertises leasing opportunities around the state. He said that they also plan to advertise the land leases more often.
“You will likely see more advertising for leases in the future as Idaho Department of Lands has implemented a new advertising process that facilitates greater public awareness regarding lease auction opportunities,” Mr. Arcano said. “The new process provides increased opportunities for alternative proposals and competitive bidding.”
He said that the leases are advertised for a set amount of time and that each application has different requirements based on the type of lease it is for.
“IDL begins the auction process by advertising leases available for application in the newspaper of record for the county where the land is situated, for at least four weeks, and posts them at IDL Area Offices," Mr. Arcano said.
For more information contact the St. Maries IDL office at 208-245-4551.