Board of Commissioners of Public Lands: Board approves the purchase of 1,053 acres of land in Forest County and loans totalling $11.8 million

CONTACT: Tia Nelson, Executive Secretary (608) 266-8369

MADISON – The Board of Commissioners of Public Lands approved the purchase of 1,053 acres of land in Forest County from Plum Creek at today’s meeting. The purchase of these lands will increase productive timberland and revenue for the Trust Funds through future timber sales, while also contributing to the timber economy in Northern Wisconsin. In addition, the forest types and tree species will add more value and diversity to the agency’s land portfolio while preventing the potential of forest fragmentation.

The Board also approved loans totaling over $11.8 million to fund public purpose projects for eight school districts and four municipalities in Wisconsin.

Loans approved at today’s board meeting include:

* School District of Barneveld – Dane and Iowa Counties / Finance building improvements / $1,175,000

* School District of Flambeau – Chippewa, Rush and Taylor Counties / Finance building construction / $400,000

* Town of Jefferson – Jefferson County / Finance road construction projects / $1,016,000

* School District of Kohler – Sheboygan County / Finance buildings and grounds projects / $1,610,000

* City of Lake Mills – Jefferson County / Finance TIF district project / $821,071

* School District of Menomonee Falls – Waukesha County / Finance renovation and improvement projects / $1,350,000

* School District of North Fond du Lac – Fond du Lac County / Finance bleacher and track project / $400,000

* Village of River Hills – Milwaukee County / Finance the purchase of capital equipment and vehicles / $471,332

* Town of Seymour – Eau Claire County / Refinance other outstanding debt / $786,615

* School District of Silver Lake J1 – Kenosha County / Finance boiler project / $200,000

* School District of West Allis-West Milwaukee, et.al. – Milwaukee and Waukesha Counties / Purchase property / $2,622,989

* School District of Wittenberg-Birnamwood – Marathon and Shawano Counties / Finance capital improvement projects / $990,100

In the last 12 months, including actions approved today, the Board of Commissioners of Public Lands has approved 222 loan applications totaling over $204.7 million. The loans can be made to municipalities and school districts for any public purpose.

Since being granted land bank authority by the legislature in April 2006, the agency has sold 8,508 acres of land located within the boundaries of another government agency or poorly suited for timber production. As directed by the legislature, proceeds from the sale of those Trust Lands can be reinvested in other property which helps the agency meet its goal of consolidating its Trust Lands. This consolidation improves land management efficiency for the agency. In addition, BCPL’s ability to support sustainable forestry, reduce forest fragmentation, permanently protect unique natural areas and improve public access has also been enhanced.

Created in 1848 by the Wisconsin Constitution, the Board of Commissioners of Public Lands was established to accept federal land grants and to manage trust funds for the benefit of public education in Wisconsin. The Board consists of Secretary of State Doug La Follette, Attorney General J.B. Van Hollen and State Treasurer Dawn Marie Sass. The majority of Trust Fund assets are held in the Common School Fund, from which the majority of State Trust Fund loans are issued. Earnings from this fund are distributed to K-12 school libraries annually.

The agency’s current biennial report can be found here: http://bcpl.wisconsin.gov/docview.asp?docid=18464&locid=145).

A list of loans approved in the last twelve months can be found here: http://bcpl.wisconsin.gov/docview.asp?docid=19950&locid=145).