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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Southern Nevada District
 
Release Date: 11/27/13
Contacts: Hillerie C. Patton , hpatton@blm.gov , 702-515-5046

BLM sells land at steep discount for senior housing complex


Las Vegas—The Bureau of Land Management (BLM), sold five acres of public land to the State of Nevada Housing Division for development of affordable senior housing in the southern part of the Las Vegas Valley, at the intersection of Agate Avenue and Kimo Street. The sale is authorized under the Southern Nevada Public Land Management Act (SNPLMA). 

The five-acre public-land sale is for the construction of a 182-unit senior-restricted rental housing complex known as the Agate Senior Apartments. This rental complex is for seniors whose income is less than 60% of the average medium income for the area. The BLM Nevada, in consultation with the Department of Housing and Urban Development (HUD), may make BLM-administered public land available at less than fair market value for affordable housing purposes. These lands are available only to State or local governmental entities, including local public housing authorities.

Under Section 7(b) of SNPLMA, the BLM conveyed the sale parcel to the Nevada Housing Division at a 95% discount. An appraisal of the parcel determined fair market value to be $1,040,000. The offered purchase price, after applying the discount, totaled $52,000.

Section 7(b) is a unique provision of the SNPLMA that allows only BLM Nevada the ability to offer lands for sale at less than fair market value for affordable housing purposes. This is BLM’s third affordable housing land sale in southern Nevada.



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.
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Southern Nevada District   4701 N. Torrey Pines Drive      Las Vegas NV 89130  

Last updated: 12-12-2013