When the Idaho Land Board purchased Affordable Self Storage in 2010 with the idea being that it was a good investment that would benefit the beneficiaries of the endowment well (i.e. public schools). Little did they realize that it would result in a controversy that would continue on long after the purchase was finalized. [More]

Sequels rarely work. Often times the second will be okay, but the third installment and on tends to be a miss as often as it is a hit; for examples see the fourth Star Wars movie, the last Indiana Jones, and the last six or seven of the Friday the 13th series. Much like the Friday the 13th series, the story that has developed around the purchase of a self storage facility by the state of Idaho does not appear ready to go away anytime soon. [More]

One of the great things about living in just about any community in the United States is that if there is something that enough of the people do not like that the local government entity can pass a law to either regulate or ban it all together. On the flip side, if they later see that the law does not work or was wrong to begin with that can change to. [More]

It has been over a year since the Idaho Department of Lands added a self storage facility named Affordable Self Storage to its portfolio for $2.7 million. Since the purchase was completed there has been an ongoing controversy on whether it is appropriate for the state to get involved in such a business enterprise that is in direct competition with so many privately held facilities. [More]

Robert Thomas, owner of Prairie Avenue Mini Storage in Coeur D'Alene, Idaho, is expanding his storage facilities. For months on end, all of his units have been full and he has had to turn away new customers. But every time he goes into the Building and Planning commission, the impact fees that he is charged doubles in amount. [More]

The government purchase of Affordable Self-Storage in Boise, Idaho, last year has always been a controversial one, especially with self storage operators and local business owners who cried foul, accusing Idaho of competing unfairly with the private sector. Now two key players in the purchase – Gov. C.L. “Butch” Otter and Superintendent of Public Instruction Tom Luna - say they made a mistake when they voted to spend $2.7 million to buy the storage business and use the revenue to benefit Idaho public schools and other state institutions. [More]

Continued discontent from some Idaho lawmakers over the state’s purchase of a self storage property for a commercial venture prompted the introduction of a new bill on Tuesday that would set restrictions on what types of buildings the state Land Board can purchase in the future for investment purposes. [More]

The state government in Idaho probably had no idea what it was in store for when the Department of Lands decided to get into the self storage business by buying Affordable Self Storage in Boise for $2.7 million. The ensuing controversy has stirred up a lot of feeling about economic policies and the role that the government should/ should not be allowed to take in regards to private business. [More]

Should state governments be running commercial real estate ventures? The subject is controversial, but a recent decision by the Idaho Lands Department to go into the self storage business is stirring up interest. Idaho’s Department of Lands purchased Affordable Self Storage of Boise two months ago and is running it as a tax-exempt business. [More]

Who is responsible for deciding if your home will be foreclosed on? At JP Morgan Chase, according to yesterday’s New York Times, the bureaucrats in charge of foreclosure paperwork were called the “Burger King kids” because they had so little experience in banking. At Citigroup and GMAC Mortgage, foreclosure paperwork was not always done by the lender itself -- instead, lenders outsourced the paperwork to workers in Guam and the Philippines. Inexpert workers sometimes threw needed paperwork in the trash, the Times reported. The charges were just the latest in a round of criticisms of the mortgage industry’s “robo-signers,” bank employees who were in charge of checking foreclosure documents prior to a repossession by the bank.

As the foreclosure crisis deepens, Attorney Generals in all 50 states have announced that they will work together on a joint investigation. At least six major lenders are reviewing their own foreclosure procedures internally, while four lenders have announced a moratorium on foreclosures until they can complete an internal review. Self storage industry experts have watched the crisis unfold with concern, as self storage companies step in to help Americans who have lost their homes and need a place to put their possessions. Several self storage companies offer discounts or free rent for the first month, partially in an attempt to offer some relief to new tenants who may be facing foreclosure, unemployment, or who are recovering from other crises. [More]