SITLA
SITLA
SITLA
Utah Trust lands are parcels of land held in trust to support 12 state institutions, primarily public schools, but also state hospitals, teaching colleges, and universities. While 67 percent of Utah is held in public domain, only about six percent of the state’s acreage is set aside as trust lands.
On behalf of beneficiaries, SITLA manages Utah’s 3.4 million acres of trust land generating revenue through oil, gas, and mineral leases, rent, and royalties; real estate development and sales; and surface estate sales, leases, and easements.
All proceeds are deposited into permanent endowments for each beneficiary. Since 1994, SITLA has generated $1.5 billion in revenue to help grow the Permanent School Fund from $50 million to just over $2 billion.
SITLA Benefits
- SITLA is the largest landholder in the State of Utah of developable land; they know and understand land development better than any landholder in the State. Our success is their success and a true partner in the development; they will do all they can to make sure their project succeeds.
- SITLA owns all of their lands outright; they are not in a rush to have to move through a project quickly. Therefore, they can adjust and react to the market as it moves through its cycles.
- There is no carry cost on the land; no capital is spent on a land purchase until after a buyer has closed on a unit (either land, a commercial building or residence).
- There is no tax liability through the course of the project; SITLA is a tax-exempt entity.
- Should any major political issues arise with zoning, infrastructure agreements, etc…with the municipalities, SITLA will side with the developer of the project and can supersede local zoning or other mandates if needs be (per various Utah State codes found in sections 10-9a-304 and 17-27a-304).