Parcels in Scottsdale, Phoenix, appraised at a combined $90 million, to be auctioned by Land Department; proceeds to benefit State Land Trust Beneficiaries

Three parcels totaling about 167 acres of State Trust Land will be auctioned by the Arizona State Land Department in August and September, said State Land Commissioner Lisa Atkins.

If all three are successfully auctioned, at least $90 million – their combined appraised value — would be invested in the State’s Permanent Land Endowment Trust Fund for the benefit of K-12 public education, the Arizona Pioneers’ Home and the Arizona Departments of Corrections and Juvenile Corrections, Commissioner Atkins said.

The following are descriptions of the parcels and auction information:
• A parcel consisting of about 10 acres at the southwest corner of 27th Avenue and Deer Valley Road, Phoenix, was auctioned August 28th, in the auditorium of the Arizona State Land Department, 1616 W. Adams St., Phoenix. The opening bid on this land was its appraised value of $2.745 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.
• A parcel consisting of about 134 acres – along with several perpetual right-of-way easements — at the northwest corner of Hayden Road and Loop 101, Scottsdale, will be auctioned at 2 p.m. Tuesday, Sept. 4. The auction will be held in the Land Department auditorium. The opening bid on this land will be its appraised value of $83 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.
• A parcel consisting of about 23 acres at the northwest corner of 35th Avenue and Happy Valley Road, Phoenix, will be auctioned at 11 a.m. Thursday, Sept. 6. The auction will be held in the Land Department auditorium. The opening bid on this land will be its appraised value of $4.62 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 the Arizona Pioneers’ Home, Arizona Department of Corrections, and Arizona Department of Juvenile Corrections.

All auctions are open to the public. Official notices for each auction 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 of 13 Beneficiaries 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 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 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.