Trident Holdings LLC pitched the plan to Republican Gov. Brad Little and four other statewide-elected members of the Idaho State Board of Land Commissioners, all of whom remained noncommittal on what was an information item only on the agenda with no action allowed to be taken by the board.

The Land Board manages nearly 4,000 square miles Idaho received at statehood to benefit mainly public schools. The board is constitutionally mandated to manage that land, as well as market investments, to get the greatest long-term return. The Land Board last fiscal year generated about $85 million for distribution.

Most of that revenue is generated through timber sales. But state-owned land in and near McCall, which is also a popular area for vacation homes, has skyrocketed in value. That means timber revenue and other uses, such as developing the land, make it conceivable that the best financial return on that land might be to simply dispose of it in exchange for some other type of asset.

Trident’s founder and manager, Alec Williams, pitched the plan as a way for the state to fulfill its mission of generating money for endowment land beneficiaries while also signing off on a deal that would preserve public access and recreational opportunities in the McCall area. He said the plan would preserve open space and create the state’s largest park. But there would also be development.

“There is a profit motive here,” Williams told the board, which met remotely because of the coronavirus pandemic.

The proposal given to the board says “a limited amount of development will occur in targeted areas.” This is described as both residential areas and hospitality areas, meaning such things as homes, hotels or resorts. But the plan doesn’t contain precise details.

McCall is a destination for many people, including the governor, who has family history in the area.

The state manages about 285 square miles in the region, with 115 square miles primarily as timberlands. About 8 square miles are within McCall’s designated area of impact, including highly sought-after shoreline along Payette Lake. That land is classified as timberland assets, but it is surrounded by land classified with higher values.

The Idaho Department of Lands, which the Land Board directs, also presented a plan for the area. It’s separate from Trident’s plan but includes much of the same land.

A primary problem for the state is that some lands in the area are not producing as much money as they could, and revenue isn’t commensurate with the actual value of the land. That potentially means the Land Board isn’t meeting its constitutional requirement to maximize the long-term financial return on that land.

Dave Bingaman, a Valley County commissioner, speaking on behalf of the county and the city of McCall, asked the board to extend a moratorium on leases and land exchanges in the area to allow for additional study.

“We only have once chance to do this right,” he said. — Keith Ridler, Associated Press