(Editor’s note: News releases are published as submitted unless they contain errors of fact.)
Parcels in Phoenix, Peoria, appraised at combined $52.1 million to be auctioned by Land Department in June, July; proceeds to benefit State Trust beneficiaries
PHOENIX – Parcels totaling about 228 acres of State Trust land will be auctioned June 6, July 11 and July 17, which if successfully auctioned would bring more than $52 million for Trust beneficiaries, including K-12 education, State Land Commissioner Lisa Atkins announced.
The following subject parcels will be auctioned:
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A parcel consisting of about 93 acres located south and west of the southwest corner of 19th Avenue and Bell Road, Phoenix, across 19th Avenue from the Turf Paradise racetrack, will be auctioned at 11 a.m. Wednesday, June 6, in the auditorium at the Arizona State Land Department, 1616 W. Adams St., Phoenix. The opening bid on this land will be its appraised value of $18 million. A successful auction amount from this sale will be placed in a permanent fund whose proceeds benefit Arizona’s K-12 public schools.
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A parcel consisting of about 10 acres located at the southwest corner of 27th Avenue and Deer Valley Road, Phoenix, will be auctioned at 11 a.m. Wednesday, July 11, in the Land Department auditorium. The opening bid on this land will be its appraised value of $2.745 million. A successful auction amount from this sale will be placed in a permanent fund whose proceeds benefit Arizona’s K-12 public schools.
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A parcel consisting of about 125 acres located at the southwest corner of Lake Pleasant Parkway and Deer Valley Road, Peoria, will be auctioned at 11 a.m. Tuesday, July 17, in the Land Department auditorium. The opening bid on this land will be its appraised value of $31.35 million. A successful auction amount from this sale will be placed in a permanent fund whose proceeds benefit the Arizona Pioneers’ Home, the Arizona Department of Corrections and the Arizona Department of Juvenile Corrections.
All three auctions are open to the public. The permanent fund is administered by the Arizona State Treasurer.
An auction notice containing bidding information as well as a schedule of upcoming auctions is available at www.azland.gov/upcoming-auctions.
K-12 public education is by far the largest beneficiary of Trust land managed by the Arizona State Land Department, whose mission since 1915 is to manage the assets of a multi-generational perpetual trust in alignment with the interests of the Trust’s 13 beneficiaries and Arizona’s future.
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 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.
— www.azland.gov —
