The Fairbanks North Star Borough recognizes that those who hold an interest in Borough owned land, such as a lease, a mining claim or an access easement, may have an interest in purchasing that land.
The Borough also recognizes that those who hold an interest in land next to Borough owned land, be it full ownership or a lesser interest such as a lease or mining claim, may also have an interest in purchasing Borough land next door.
We now offer these individuals the opportunity to purchase Borough Land year-round.
Here's how it works:
1. The Lease or mining claim must have been in possession of the intended buyer for a minimum of 4 years.
2. A Lease must have been in actual use pursuant to the terms of the lease for a minimum of 4 years.
3. The sale parcel may be no greater than 40 acres.
4. Sale price will be 10% above Fair Market Value, to be determined by independent appraisal.
5. Where multiple qualifying parties declare interest in purchasing, a sealed bid auction between them will occur.
6. Buyer is responsible for the cost of appraisal, surveying and platting as needed.
7. Owner financing will be offered to qualified buyers. Terms may vary.