Nov. 19, 2013- The Arizona State Land Department auctioned 2,365 acres of State Trust land to the City of Scottsdale for $21.3 million. Scottsdale purchased the land, located south of the Bell Road alignment, between the 120th and 136th street alignments to add to its McDowell Sonoran Preserve.
“This is one of several significant auctions taking place this year,” Arizona State Land Commissioner Vanessa Hickman said. “Through the Arizona Preserve Initiative, the Land Department has helped Scottsdale add over 15,000 acres to their preserve, resulting in revenues of nearly $250 million for the Trust beneficiaries, the largest being K-12 education. It’s exciting to generate significant revenues for the Trust while also being able to provide for so many acres of open space, so important to our lifestyle and to our many visitors.”
In fiscal year 2012, the Arizona State Land Department generated revenues in excess of $213 million and in fiscal year 2013 revenues exceeded $318 million.
The Arizona State Land Commissioner serves as trustee of over 9.3 million acres of Arizona State Trust land. Since the State Land Department’s inception, its mission has been to manage the Land Trust and to maximize revenues for its beneficiaries.