BOISE, Idaho - The Idaho Department of Lands has auctioned off 21 vacation home sites at Payette Lake as part of its plan to divest itself of the lucrative but difficult-to-manage assets.
The Idaho Statesman reports (http://bit.ly/1oNamSE) that incumbent lease holders bought all but one of the sites at the auction on Saturday in Eagle.
The site not bought by a current leaseholder was appraised at $37,000 but went for $42,000. The buyer will also have to pay the former leaseholder $68,580 for the value of a home and other improvements.
The sale raised $6.1 million for education and State Hospital South.
The State Board of Land Commissioners late last year approved holding voluntary auctions of 74 cottage sites at Priest Lake and 21 cottages at Payette Lake.
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