BOISE, Idaho — The Mayor of Boise announced on Monday afternoon that the city is no longer considering a proposed land-swap deal with a developer who owns land in the foothills. However, Lauren McLean also said the city will get the 160-acre parcel of land appraised by brokers before the city begins hearing bids for it.
Murgoitio Park is a 160-acre plot on South Cole Road that former Boise Mayor Brent Coles promised to turn into a regional park, 25 years ago. In the recently proposed land-swap deal, the City of Trees would give the property to developer Harris Ranch Limited in exchange for land in the southeast Boise Foothills.
Now that deal is off the table after Mayor McLean's announcement on Monday. "The proposed trade agreement doesn't make financial sense for Boise residents and is no longer under consideration," she said in a statement.
Leading up to Monday's announcement, McLean said, "The city has been doing its due diligence to look into the details of the proposed trade due to the potential to build much needed, affordable housing at the site."
She added that the city will soon have an updated appraisal for the plot from a broker, which is anticipated to be higher than 2020's estimation of $7.8 million.
McLean explained in her statement that between the upcoming appraisal and recent sales of parcels around Murgoitio, now was the time to reject the land-swap deal.
"We as a city are committed to using this land in a way that best serves Boise taxpayers," McLean said.
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