Bidders have a little more time to come up with at least $68 million to participate in a State Trust Land auction of 2,783.13 acres south of Apache Junction and north of Queen Creek.
The auction was to be held Aug. 20 but has been postponed to Oct. 20, a spokesperson for the Arizona State Land Department said.
“Yes, the auction has been moved to Oct. 20. The new date has been on our website for a while,” he said.
There are no changes to the auction except for the date, which was announced July 8, the spokesperson said.
The auction --- where sealed envelopes with the bids can be delivered --- is 1 p.m. Tuesday, Oct. 20, in the Ironwood Room at the Historic 1891 Courthouse, 145 N. Pinal St. in Florence.
“Due to the impacts of COVID-19 on normal business operations, the Arizona State Land Department is extending the due-diligence time for potential bidders to evaluate the property and related materials available for this auction,” the new auction notice states.
K-12 schools are to be the beneficiary of the sale of the land in the area called Superstition Vistas, which is between Elliot and Ray roads and from Meridian east about 2 miles.
The Arizona State Land Department manages approximately 9.2 million acres of State Trust lands. These lands were granted to the state under the provisions of the federal Enabling Act that provided for Arizona’s statehood in 1912. These lands are held in trust and managed for the sole purpose of generating revenues for the 13 State Trust land beneficiaries, the largest of which is Arizona’s K-12 education, according to land.az.gov.