It is the Arizona State Land Department's (ASLD) responsibility, on behalf of the Trust Beneficiaries, to assure that all Trust land transactions are consistent with the State’s mandate to maximize revenue to the Beneficiaries. The Trust cannot subsidize development for any purpose, no matter how commendable, at the expense of its Beneficiaries.
Both the purchase and the commercial lease process is initiated by an application, completed by the applicant in consultation with Department staff, and filed with the ASLD. A Preliminary Application Conference with Real Estate Division staff is recommended prior to filing a purchase or long- term lease application. Typically, lands intended for residential purposes are sold, and lands intended for commercial uses are leased.
Commercial leases can have terms of either 10 years or less (“short term”) or more than 10 years and up to 99 years (“long term”). Sales and long term commercial leases are acquired through the public auction process. All sales and commercial leases of State Trust Land must be approved by the Board of Appeals before going to auction. ASLD is authorized to pay commissions to Arizona licensed real estate brokers as part of the auction process; see below.
ASLD will review a purchase or lease application, taking into consideration at a minimum the income potential to the Trust; proposed use; archaeology; hydrology; geology; entitlements; impact to adjacent State Trust Lands; availability of utilities / infrastructure; access; proximity to existing development; parcel size; and conformity with local jurisdiction regulations.
The complexity of a purchase or lease application is the determining factor in the length of time it takes to process the application. Due diligence is at the expense of the applicant, and for auctioned transactions, may possibly be reimbursed if the applicant is not the successful bidder.
For more information, contact Sales and Commercial Leasing, 602-542-3000 or [email protected]
LINKS TO APPLICATIONS