State Lands 2015 Annual Portfolio Report
State Lands 2015 Annual Portfolio Report
Greg Nyland
CalSTRS Portfolio Manager, Real Estate
Kevin Bassi
CalSTRS Investment Officer, Real Estate
Program Background
In 1853, with the passage of the Act of March 3, 1853 (10 Stat. 244), the federal government gifted 5.5 million acres to the state of California to be used for the support of public education. Between 1855 and 1984, nearly 90 percent of the “school lands” (all of the high quality land) was sold, leaving behind mostly desert land, most of which falling within the boundaries of the lands protected by the California Desert Protection Act.
Financial Review
In fiscal year 2014–15, school lands generated gross revenues of $7.8 million for CalSTRS, a decrease of 24.3 percent from the previous year. Gross revenue to CalSTRS from solid mineral leases decreased substantially from $1,673,233 the previous year to $712,157, a 53 percent decrease from the previous year.
Legislation Review
AB 982 Update – AB 982, which became law in 2011, directed the State Lands Commission and the Department of the Interior to enter into a Memorandum of Agreement (MOA), designed to facilitate land exchanges to consolidate state school land parcels consistent with renewable energy development of the Desert Renewable Energy Conservation Plan (DRECP).
Project Updates
The map below shows the locations of the various projects currently underway throughout the state. Click to view a larger size with legend.
For accessible versions of files on this page, contact ADACoordinator@CalSTRS.com.
State Lands Commission Acronym Glossary
Glossary of acronyms used in this report.
Contact CalSTRS Real Estate Program
For additional information about the State Lands Program, contact Kevin Bassi at 916-414-7970 or Kbassi@calstrs.com.