State cabin leaseholders on Payette and Priest lakes will get a reprieve on their 2014 payments, for a price.
The Idaho Land Board — the five statewide officials who preside over Idaho’s endowment lands, on behalf of public schools and other beneficiaries — agreed to allow leaseholders to defer payments.
The Idaho Department of Lands recommended the deferral plan.
The department’s reasoning: The state is charging cabin leaseholders 4 percent of appraised land value, and this equates to some big cost increases, particularly on Priest Lake. Between 8 to 10 percent of Priest Lake’s 354 leaseholders could wind up walking away over the cost increases, lands department director Tom Schultz told the board Thursday morning.
Under the plan, leaseholders can defer the difference between their 2014 payments and their 2013 payments, for up to two years. Leaseholders must pay 6 percent annual interest.
Gov. Butch Otter, state schools superintendent Tom Luna, Secretary of State Ben Ysursa and Controller Brandon Woolf endorsed the deferral plan. Attorney General Lawrence Wasden voted no.