Board of Commissioners of Public Lands: Board approves sale of 314 acres of trust lands to the DNR and over $7.7 million in trust fund loans

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

MADISON – The Board of Commissioners of Public Lands approved the sale of 314 acres of Trust Lands in Oneida County to the WI Department of Natural Resources. Sale of these lands to the DNR will allow the DNR to protect a diverse natural area containing a variety of rare species along a scenic waterfront.

In addition, the Board also approved loans totaling over $7.7 million to fund public purpose projects for three school district and eight municipalities in Wisconsin.

Loans approved at today’s board meeting include:

* School District of Brown Deer – Milwaukee County / Finance facility upgrades and energy saving projects / $1,200,000

* City of Cedarburg – Ozaukee County / Finance street reconstruction project / $800,000

* City of Green Lake – Green Lake County / Finance street reconstruction and sewer/water system projects / $1,397,094

* Village of Howard – Brown and Outagamie Counties / Purchase land / $783,355.75

* Town of Knowlton – Marathon County / Purchase new dump truck and plow / $75,000

* School District of Ladysmith – Price and Rusk Counties / Refinance loans used for middle school boiler system upgrades / $500,000

* Town of Merton – Waukesha County / Finance road projects / $800,000

* City of New Richmond – St. Croix County / Finance street improvements / $1,069,000

* School District of Stratford – Remodel and construct high school and elementary school buildings / $875,000

* City of West Allis – Milwaukee County / Finance sanitary sewer projects / $188,018

* Town of Whitestown – Vernon County / Purchase tractor loader backhoe / $34,000

In the last 12 months, including actions approved today, the Board of Commissioners of Public Lands has approved 236 loan applications totaling close to $223 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 poorly suited for timber production or otherwise located within the boundaries of another government agency. 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=19639&locid=145.