The Utah State Lands and Amphitheater Administration Board of Trustees met on September 17, 2026, to review fiscal year 2026 results and discuss land development proposals. A primary focus of the meeting included a proposed special use lease agreement with Valor Atomics for land located in Carbon County.
Director Michelle McConkie reported that the agency achieved a record-breaking $192.48 million in revenue for fiscal year 2026. This surpassed the $142 million generated in fiscal year 2025 and the $166 million recorded in 2022. Revenue sources included $78.51 million from energy and minerals, $57.94 million from residential and commercial real estate, and $56.03 million from surface resources. The agency also noted an increase in drilling on split estate leases, particularly in Duchesne County, and steady growth in renewables such as solar and geothermal.
During the meeting, the board considered a special use lease agreement with Valor Atomics for a 640-acre parcel in Carbon County, located approximately six miles north of Wellington and six miles east of Price. The proposal includes an option to purchase the property, which was appraised at $750 per acre, totaling $360,000 for the initial 480 acres. The project area is situated in Section 16, 14 South 11 East. An additional 160 acres may be included in the future following a potential Utah National Guard relocation.
Kira Bennett, the new director for the School Land Trust Program, explained that the program helps connect funding generated from state lands to Utah public schools. Marcus Chen noted that local school councils use these funds to address academic needs, such as literacy and mathematics. The program serves districts, charters, and the USDB, with the average distribution this year being $20 per student. The School Land Trust Program represents less than 3% of annual school budgets but is considered a high-impact resource.
The board also reviewed the impact of the Dingle Exchange on land sales, including the $29.67 million Book Cliffs Roadless Area sale in Grand County and a $7.45 million sale in Rich County. The meeting concluded with discussions regarding the necessity of energy abundance and the role of nuclear technology in supporting state and national interests.
