FOR IMMEDIATE RELEASE         Date: June 15, 2005
 Contact: Kirsten Cannon       Phone: 702-515-5057
 

BLM auction sold 282 acres in Laughlin, netting $33 million

Las Vegas -- The Bureau of Land Management (BLM) today sold 281.54 acres of land in 66 parcels taking in $33,220,000 under the Federal Land Transaction Facilitation Act (FLTFA).

Parcels offered for sale varied in size from 1.25 acres to about 583 acres. The six largest parcels received no bids. 

Around 100 bidders registered to bid on the parcels.  All registered bidders were required to submit a certified check, a bank draft or a cashier’s check in the amount of $10,000 to the BLM.  The deposit will be applied to the lands price for those who were successful bidders, and the money will be returned to unsuccessful bidders. Successful bidders were required to pay 20 percent of the bid amount today, and are required to pay the remainder with 180 days.

In Nevada, the BLM also sales federal land through the Southern Nevada Public Lands Management Act (SNPLMA).  Like FLTFA, the proceeds from the SNPLMA land sales remain in the State; however, SNPLMA funds are used for capital improvements, conservation initiatives, parks trails and natural areas, and multi-species habitat conservation in addition to land acquisitions.

Ninety-six percent of the revenues from FLTFA sales go into a special account available to the Secretaries of the Interior and Agriculture for acquiring inholdings within certain federally designated areas, or lands adjacent to those areas and containing exceptional resources.  The remaining four percent goes to the State of Nevada.

For more information about BLM land sales and the Federal Land Transaction Facilitation Act please visit www.nv.blm.gov.

-BLM-