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Pocatello District board approves revised land-exchange agreement with MSP Capital pending county recorder instrument number
Summary
The board approved a revised land-exchange agreement to convey 9.9 acres as part of an exchange tied to the Olympus Junction subdivision; the motion is conditional on inserting the county recorder's instrument number once the subdivision recording is available.
The Pocatello District board approved a revised land-exchange agreement with MSP Capital LSC, authorizing the swap of a 9.9-acre parcel as recorded in a subdivision to be called Olympus Junction and directing staff to insert the county recorder instrument number once the recording is complete.
Staff explained the district's counsel and surveyor recommended using the county recording instrument number as the binding legal description for lot one, block one in the Olympus Junction subdivision; the board's motion authorizes approval pending that recorder number. Staff said the revised timeline shifts several dates to allow additional review, moving previously listed July 18 dates to July 26 and aligning the 30-day inspection/closing window to the revised date.
Staff clarified the exchange covers the 9.9-acre portion specifically; the remaining roughly 12–13 acres on the combined parcel are not part of the swap. An appraisal cited in the meeting indicated the parcel across from Highland has a higher per-acre value, meaning the district will convey slightly more acreage in return under the agreement.
A board member moved to approve the revised land-exchange agreement with MSP Capital LSC pending the recorder instrument number; another member seconded, and the motion carried. Staff said their goal was to have the transaction wrapped up by the end of July once county recording and final instrument details are available.
The motion includes a condition that the blank legal-description field will be filled with the county recorder's instrument number once provided; no final closing was recorded in the meeting minutes and the parties will complete recording and instrument insertion before closing.
