Alaska Mental Health Trust Authority Land Sale Nets nearly $1.4 Million
31 parcels sold for 23.5 percent above appraised value
(Anchorage, AK) - Through a sealed bid process, 31 parcels of land owned by the Alaska Mental Health Trust Authority (The Trust) sold for a total of $1,395,000.13. The total sale price is approximately 23.5 percent above the appraised value of the land. The bidding process for these parcels opened August 15 and ended October 17, 2011.
Income from this land sale, along with other income generated from Trust land and The Trust’s cash investments (which are managed by the Permanent Fund Corporation) is used to fund programs throughout Alaska that benefit people with mental illness, developmental disabilities, chronic alcoholism and other substance related disorders, Alzheimer’s disease and related dementia, and traumatic brain injury.
Details of sealed bid land sale (preliminary):
• 73 total parcels offered
• 31 parcels sold for a total of $1,395,000.13
• 124.583 total acres sold
• Total appraised value of the 31 sold parcels is $1,131,825
• Average price per acre sold is $11,197.36
• Percentage of total sale above appraised value is 23.5
The list of apparent high bidders is available on the Trust Land Office’s (TLO) web site at www.mhtrustland.org. The parcels that were not sold in the sale that closed October 17, 2011, will be available through the next competitive sale. Information on The Trust’s winter land sale will be available on the TLO website November 30, 2011.
About the Alaska Mental Health Trust Authority (The Trust):
The Trust (www.mhtrust.org) was established in 1994 by the Alaska Legislature as a perpetual trust. A seven-member Board of Trustees manages The Trust’s assets on behalf of its beneficiaries, who include people with mental illness, developmental disabilities, chronic alcoholism and other substance related disorders, and Alzheimer’s disease and related dementia, and traumatic brain injury. Trustees annually fund approximately $25 million in services to supplement the State’s comprehensive mental health program.
About the Trust Land Office (TLO):
The TLO (www.mhtrustland.org) is a separate unit within the Alaska Department of Natural Resources that manages, under contract, the land and other non-cash assets of The Trust. Revenue-generating uses of Trust land include leasing and sales of land; commercial timber sales; mineral exploration and production; coal, oil and gas exploration and development; and sand, gravel and rock sales.