Idaho Land Board forms subcommittee to analyze land dealings

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BOISE, Idaho (AP) — Idaho Gov. Brad Little, Attorney General Lawrence Wasden and a financial expert will examine how the Idaho Land Board should invest $240 million from the sale of hundreds of residential home sites as well as commercial real estate properties.

Irving Littman, a retired vice president and treasurer at Boise Cascade, on Tuesday was named the third member of the committee to join the two Republican office holders.

A financial adviser has already told the Land Board to use the money to buy timberland and farmland.

But at least one timber company concerned about competition and some counties worried about losing property tax income have voiced concerns about that plan.

The Land Board manages about 3,800 square miles (9,800 square kilometers) of state land and is constitutionally mandated to get the greatest return on that land over the long run.

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