Cinnamon Creek Sale Provides Critical Support
Utah’s Reservoirs and Public Schools Benefit Big
SALT LAKE CITY (Nov. 17, 2021) – The State of Utah School and Institutional Trust Lands Administration (SITLA) sold its largest parcel to date for $20,000,013 yesterday. The winning bid for the 8,100-acre Cinnamon Creek parcel was relayed to the agency by EnergyNet, the online auction and land sales company that managed the sealed bid sale.
“This is a big win for our beneficiaries,” stated Michelle McConkie, an Assistant Director at SITLA who oversees the agency’s Surface Management Group. “It’s about a 50/50 split with reservoirs and public schools. This piece of land brought in about $20,000 last year; with this sale, the beneficiaries are looking at millions in revenue, an amount that would take decades to generate in its current state.”
Utah trust lands, unlike public lands, were specifically allocated by Congress at statehood to generate revenue to support designated state institutions. The beneficiaries of trust land revenue include public schools, hospitals, juvenile justice services, teaching colleges, universities, and reservoirs. Utah’s constitution and statutes mandate that SITLA manage the lands and revenues generated from them in the most profitable manner possible by planning for the current beneficiaries while preserving trust assets for future beneficiaries.
“Utah experienced some of the worst water supply conditions this year than most of us have seen in our lifetimes,” said Candice Hasenyager, director of the Utah Division of Water Resources. “Many of our reservoirs have hit record-low water levels. Looking ahead, we need to reduce how much water we use and increase our storage. SITLA has always looked out for us, and this sale couldn’t come at a better time.”
Paula Plant, Director of the School Children’s Trust at the Utah State Board of Education, said, “We’re grateful to SITLA for making this sale such a success! This sale will generate additional funds for Utah school students, not just next year but every year going forward. In Utah, every public school has a council that directs how their portion of the trust funds are spent. Councils may hire teachers, reading specialists, purchase technology, provide hands-on STEAM projects and equipment for children with special needs. The funds are spent for the unique needs of each school.”