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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Southern Nevada District Office
 
Release Date: 07/17/13
Contacts: Karla Norris, 702-515-5044, knorris@blm.gov    

BLM Las Vegas Competitive Land Sale Nets $21.4 Million


Las Vegas--The Bureau of Land Management (BLM) held a competitive land sale on Tuesday, offering nearly 134 acres of public land under the authority of the Southern Nevada Public Land Management Act (SNPLMA). The agency sold 109 acres of land in seven parcels for $21,373,650.
 
The parcels offered for sale vary in size from one acre to 31 acres. Two parcels received no bids. The largest parcel of 31 acres was purchased by D.R. Horton for $5,293,323. The fair market appraised value of the nine parcels offered was nearly $14 million.
 
Parcel #, Acres, Appraised Value (AV), High Bid (HB), Winning Bidder:
N-81959, 2.5, AV $230,000, No bids
N-91125, 1.07, AV $17,800, HB $18,000, G. Kular
N-91529, 22.5, AV $2,360,000, HB $5,906,550, L.H. Ventures
N-91530, 20, AV $3,150,000, HB $4,081,054, D.R. Horton
N-91531, 15, AV $1,380,000, HB $3,025,120, Pardee Homes
N-91532, 31.25, AV $2,875,000, HB $5,293,323, D.R. Horton
N-91537, 11.25, AV $1,035,000, HB $1,249,551, CanKids LLC
N-91538, 7.5, AV $790,000, HB $1,575,050, Pardee Homes
N-91539, 22.5, AV $2,160,000, No bids
Totals: 133.57 acres, AV $13,997,800, HB $21,373.650
 
The successful bidders were required to pay 20 percent of the bid on the day of the sale.. The remainder of the bid is due within 180 days to receive patent to the parcel.
 
In accordance with the SNPLMA, the monies may be used for specific purposes, including parks, trails and natural areas; capital improvements; conservation initiatives; and to purchase of environmentally sensitive lands. Additionally, 10 percent of the funds raised will go to the Southern Nevada Water Authority and five percent will go to the Nevada State General Education Fund.


The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The BLM's mission is to manage and conserve the public lands for the use and enjoyment of present and future generations under our mandate of multiple-use and sustained yield. In Fiscal Year 2013, the BLM generated $4.7 billion in receipts from public lands.
--BLM--

Last updated: 07-31-2013