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Several Parcels Of State Trust Fund To Go Up For Auction

The land value is rising in Phoenix since everyone wants to be a land owner and grab themselves a piece be it an eighth, a quarter, a half an acre or even 10 acres of ranch as long as you have the share of beautiful Arizona on your feet. This has caused the prices of the land to go higher according to the business law the higher the demand the higher the price.

Arizona is to Auction land for the citizens living in Phoenix worth 14 million. On Tuesday 30th October the State Land Department officials announced that they are Auctioning 81 acres piece of Land broken into six parcels that is valued at more than $14M in November.

Commissioner of State Land Department Lisa Atkins said that, if all six are successfully auctioned, the appraised value of at least $14.26 million would be invested in the State’s Permanent Land Endowment Fund for the benefit of K-12 public education.


The five parcels near Tucson and one in Phoenix will go on auction in November 6th and 7th respectively. The first auction will be held in Mountain Park southwest of Tucson at 11 a.m. The auction will be held at Herbert K. Abrams Public Health Center, 3950 S. Country Club Road, Tucson. The second  parcel consisting of about 51 acres west of 40th Street and south of Loop 202 in Phoenix will be auctioned at 11 a.m. Wednesday. The auction will be held in the auditorium at the Arizona State Land Department, 1616 W. Adams St., Phoenix:

 The minimum bid for all five parcels totaling to 31 acres will be $259,000, their combined appraised value. If there are no bidders for the combined parcels, the individual parcels will be auctioned. The appraised values for each individual parcel may be found. The minimum bid on the 51 acres land will have its appraised value of $14 million. A successful bid amount from this sale will be deposited into an account of the Permanent Land Endowment Trust Fund at the Office of the Arizona State Treasurer. The account is designated for K-12 public education.

This comes a month later, after 23 acres of State Trust Land in Phoenix that was Auction at $ 7.2 Million. According to the commissioner Lisa Atkins the money was to be used in benefiting Arizona Pioneers’ Home in Prescott and adult and juvenile corrections institutions around the state.

This is the perfect opportunity for all Arizona residents to access land and have ownership because the State of Land Department is out to ensure that land that is not in use can be given out to the public to make good use of it and the cash raised from the sells to help the same citizens to fund education, health, transport among other basic needs of the people of Phoenix.

The Arizona State Land Department has come up with a Five Year Plan (FYP) that needs to ensure the land is open for all citizens to access at affordable prices. This plan will be available soon. It has been prepared under ARS § 37-331.03. The FYP is a representation of potential areas of concern for the Arizona State Land Department to initiate land sales and long term leases on behalf of the Trust and its beneficiaries. Members are advised to contact the Real Estate Division regarding any question at 602-542-3000.

The Land Department controls roughly 9.2 million acres statewide. On Nov. 19, it plans to hold another auction for 2,365 acres in north Scottsdale at a minimum bid of $21.3 million. The city of Scottsdale is planning to bid on it and add it to the McDowell Sonoran Preserve.

On December 18, the Arizona State Land Department plans to auction a 72-acre parcel in Sahuarita south of Nogales Highway and east of Interstate 19, with a minimum bid of $272,363.

The state’s decision to put trust land up for sale is due to Tucson’s expanding economy, said Wesley Mehl, deputy state land commissioner. DON’T BE LEFT OUT!

“The State Land Department has made it a priority to identify parcels in Southern Arizona that are market-ready and to schedule auctions for such parcels to meet existing demand for residential and commercial uses,” he said.

WHY IS STATE LAND DEPARTMENT AUCTIONING?

Growing Smarter State Trust Land Acquisition Grant Program

This is administered by Arizona State. Parks was approved by Arizona voters through passage of Proposition 303 in 1998. The purpose of the Growing Smarter grant program is to conserve open space and, therefore, the City is required to provide a conservation easement to Arizona State Parks on any lands it acquires using these matching grant funds.

Available Funding

The city meets its obligations by issuing State land under auction. The cash that comes from the successful auction is used to fund the city activities like education, security, health and roads. This also helps in economy growth.

Community Involvement

This ensures that the community of Arizona involves in the development of its state by purchasing land at relatively low prices therefore funding the state to run its activities. They also have land ownership which is appreciating in value.

 

THE ADVANTAGE TO THE PUBLIC

  • All members have equal opportunity to access the land asset since the property is opened to all potential customers to make their prices and the best price wins.
  • You will get the land at a relatively low price compared to the existing market price that is the State of Land Department Auctions the land at affordable prices to the public.
  • It offers the first chance to snap up a property you might not otherwise be able to afford, and fewer people may be interested in the property than it could be if it were available in the normal market channel.
  • The auctioneer may set the minimum reserved prices but the potential to get the deal has a big win that compensate for the potential drawbacks.
  • The States puts in place the risk of insecurity, and ensure good infrastructures around the place.
  • The cash from the auction will benefit the public in improving infrastructures and budgeting for the basic needs and public institutions where we visit frequently for example water, education and health among others.

All uses of the land and resources held in the Trust must benefit the Trust, a­­­­ fact that distinguishes it from the way public land, such as parks or national forests, may be used or managed. While public use of Trust land is not prohibited, it is regulated to ensure protection of the land and its resources and compensation to the Beneficiaries for its use. Today the Arizona State Land Department pro-actively manages more than 9.2 million acres of Trust land, which is 13 percent of the land within the State of Arizona.