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Blog Entry from Citizens for Responsibility and Ethics in Washington

Senator Murkowski's murky land deal is headline news in Anchorage

Lisa Murkowski's suspect land deal is featured prominently in today's Anchorage Daily News. And, the paper gives credit where credit is due -- to TPM Muckraker for breaking this story just a couple days ago:

U.S. Sen. Lisa Murkowski is drawing criticism this week over Kenai River property she bought late last year from real estate developer and political supporter Bob Penney.

The national political Web log tpmmuckraker.com raised the issue Monday when it quoted government watchdogs questioning whether the senator should do business with Penney, who has also been a business partner with Sen. Ted Stevens, R-Alaska.

It also questioned whether the sale price -- initially unreported -- was below the market value.

After two days of criticism online and on talk radio, both Penney and a spokesman for Murkowski described the deal as a fair trade between people who chose to become neighbors on the river.

They said Murkowski, R-Alaska, and husband Verne Martell paid Penney the amount of the Kenai Peninsula Borough's most recent assessment on the 1.27 acres: $179,400. Murkowski's spokesman said there was nothing improper about the sale.

This year's borough assessment, completed after the sale, is for $214,900.

The assessed value was a fair selling price, Penney said, adding he sold the land next to his own place because he enjoys fishing with Murkowski's family and wanted them near.

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