On Thursday, Oct. 17, 2013, at the Arizona State Land Department, 1616 West Adams St., Phoenix, 193.4 acres of State Trust land will be auctioned to the highest bidder.
The land, located on the northeast corner of Signal Butte Road and Guadalupe Road in Mesa, is appraised at $30 million. What will surely be competitive bidding by several interested parties will commence at 10:30 a.m. in the ASLD’s Lower Level Auditorium. The minimum bid has been set at $30 million dollars.
“The Department is very excited to be auctioning this property, and the fact that this promises to be a competitive auction makes it an even bigger win for the Trust beneficiaries, in this case K-12 education.” Arizona State Land Commissioner Vanessa Hickman said. “Fiscal year 2013 was a good year for the Trust with revenues exceeding $318 million and fiscal year 2014 promises to be even better. The Department is pleased to be part of Arizona’s continuing recovery and proud of our ability to increase revenues for Trust land beneficiaries.”
State Land Department generated revenue in FY13 in excess of $318.9 million. Thanks to prudent sales and careful Trust land stewardship, the Arizona State Land Department has created a Permanent Fund of over $4 billion dollars.
The Arizona State Land Department is tasked with the management of State Trust Lands predominantly for the benefit of K-12 education. These lands were granted by the Federal Government to Arizona at the time of its establishment as a territory and upon statehood under the Enabling Act of 1910. Arizona created the Land Department and accepted the responsibility of State Trust Land management. Today, the Trust controls approximately 9.2 million acres, which it manages to produce revenue for the Trust beneficiaries.