AP NEWS

State buys farm for $11.3M, most expensive land buy to date

March 5, 2018

BILLINGS, Mont. (AP) — The Montana State Land Board approved the most expensive land purchase in the history of the state.

The Billings Gazette reports Montana bought a farm 25 miles northwest of Miles City in Rosebud County for $11.3 million.

The deal is set to close Friday.

The 27-square-mile (70-square-kilometer) Angela Farm property was originally supposed to be an even larger purchase. Another 11 square miles (28.5 square kilometers) that was supposed to be phase two — an additional $4.1 million acquisition — was dropped for not meeting the state’s rate of return criteria and due to a lack of funding.

Money for the property comes from the state’s Land Banking fund, cash acquired from the sale of other state parcels.

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Information from: The Billings Gazette, http://www.billingsgazette.com

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