The land where miracles grow.

Cottage Site Transactions

In February 2010, the Land Board directed the Idaho Department of Lands (IDL) to develop a plan to unify ownership of the leased cottage sites at Priest Lake and Payette Lake.

The first step in implementing this directive was to prepare the Endowment Trust land with a marketable title by completing the "Lot Solutions Process."

After the completion of the Lot Solutions Process, subdivision plats will be recorded at both lakes and legal access will be provided to the cottage site developments.

Transaction Types

After the subdivision plat is recorded, the leased lots in that plat become eligible for two types of transactions:

Voluntary Single Cottage Site Auction

  • The IDL will decide when to advertise for applications that will be accepted for Voluntary Auction sites.
  • The applicant must be the current cottage site lessee in good standing.
  • The applicant (current lessee) decides whether or not they will apply for the auction of the lot they currently lease.
  • The auction is a public, oral, competitive auction.
  • Each site will be actively marketed prior to the auction date.

    • Additional Information:
    -Sample Single Cottage Site Land Purchase Application [pdf]
    -FAQ: Cottage Site Transactions [pdf]

    Land Exchange

  • A land exchange occurs between two owners (holders of the deeds for real property) of like-kind real property.
  • One owner exchanges its real property for real property of equivalent value owned by the other party.
  • The land exchange applicant is the owner of the property proposed for exchange at the time the application is submitted to the IDL.
  • An applicant (or the broker for the applicant) is responsible for organizing lessees to participate in a land exchange.
  • Pre-application meetings are required.
  • Rigorous due diligence is conducted on each proposed land exchange.

    • Additional Information:
    -Sample land exchange application [pdf]
    -Flow Chart: Roles in a Land Exchange [pdf]
    -FAQ: Cottage Site Transactions [pdf]

    Valuation

    The valuation of the individual cottage site and the improvements on it (if any) will occur after a transaction application is accepted by the IDL.

    Additional Information:
    -FAQ: Cottage Site Appraisals [pdf]
    -Cottage Site Appraisal Instructions [pdf]

    Guidance for Acquisitions

    The Land Board-approved Asset Management Plan provides the guidance on what the IDL must consider when acquiring real property. The plan covers several asset types and corresponding performance measures for any asset the Endowment Trust is looking to aquire.

    Additional Information:
    -Asset Management Plan

    Related Pages

    Additional Information

    Applications

    Staff Contacts

      Kate Langford, Strategic Business Analyst
      Roger Titmus, Strategic Business Analyst
      Idaho Department of Lands - Boise Office
      (208) 334-0200