How and when does Borough owned land go up for sale?
It is the intent and goal of the Division of Natural Resources Development to offer for sale all patented, unretained, and general grant lands to the general public. However, the Fairbanks North Star Borough (FNSB) Assembly must authorize the sale of any Borough owned lands by ordinance. Once a parcel or group of parcels is approved for sale by the Assembly the land can then be offered by competitive public sale through a Sealed Bid Auction or Lottery.
The most common types of borough land sales are: Competitive Land Sale or Auction, Over the Counter (OTC), Direct Sales, and Tax Foreclosure.
How is the listing price determined?
All of our processes are determined by the Borough Code of Ordinances Title 20 and we must operate within that authority. Our prices are determined by market appraisal and must be approved by the Borough Assembly prior to a property being listed for sale.
Competitive Land Sales
The Borough does not currently have any active Competitive Land Sales or auctions. Stay tuned for new land sale offerings that are in process of approval.
Parcels that remain unsold through past Competitive Land Sales will be made available through future Over-the-Counter Land Sales. These parcels are offered on a first-come first-served basis for the minimum purchase price listed in the auction.
The Direct Land Sale option is available to persons who hold an existing interest in a parcel, such as someone who has been leasing, holds a mining claim, or who owns land with a common border to that parcel. Direct Sales may become competitive if more than one persons hold direct interest in the land.
Properties determined to be available by Tax foreclosure auction are posted in June of each year, and the Auctions held in August by the office of the Treasury & Budget. The link to the listings are here. All Tax Foreclosure proceedings are subject to Borough Code Title 8.
If a member of the public would like to nominate a parcel of borough land to be made available in a land sale, they can fill out a Nomination of Borough Land form and submit it to the Division of Natural Resources Development for consideration.