State officials erroneously over-appraised the value of state land in and around McCall, an investment firm said Wednesday, a day after land managers rejected the company’s land-swap application.
Trident Investments in a statement said it will continue with its efforts on a land swap that could ultimately lead to housing developments in the McCall area along with the preservation of open space with what would be the state’s largest park. The vacation and second-home area is prized for its outdoor recreation opportunities.
The Idaho Department of Lands on Tuesday in a letter to Alec Williams, Trident’s founder and manager, rejected Trident’s application for a swap involving 33 square miles of state land in and around McCall for 33 square miles of private timberland in northern Idaho because the state would lose $292 million. The Lands Department said the state land Trident Holdings sought is worth $366 million, while the private land it offered is worth $74 million.
The dispute could have significant ramifications for state-owned lands not only in the McCall area, but across the state. That would be especially true in areas such as McCall where skyrocketing land values could force recalculations of the best use of state land and how much should be charged for leases on state-owned land. (AP)
