DNRC outlines land-banking program, fund balance and acquisition challenges
DNRC staff briefed the Land Board on the land banking program's statutory framework, program goals and balances; staff said the fund holds roughly $40 million but market conditions and cabin-site sales have constrained acquisitions, and DNRC reported metrics and statutory rate-of-return rules that complicate purchases.
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Seth Goodwin, land section supervisor with DNRC’s Real Estate Management Bureau, presented an overview of the land banking program, its statutory history and recent performance. He told trustees the program—created after HB 223—has supported 679 sales totaling more than 90,000 acres and 23 acquisitions totaling over 98,000 acres, and that the current land-banking fund balance is ‘‘over $40,000,000.’’
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