Land Sale Generates Almost $15.4 Million for Projects
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Las Vegas --The Bureau of Land Management (BLM) today sold 63.75 acres in 13 parcels for $15,397,200 during a competitive public land sale. The agency offered 81.25 acres, in 17 parcels, under the Southern Nevada Public Land Management Act (SNPLMA). Parcels offered for sale varied in size from 1.25 to 17.5 acres and were located in the Las Vegas Valley.
Successful bidders included:
Location | Size | Fair Market Value | Purchase Price | Successful Bidder | Parcel Number |
Mardon & Montessouri | 5 acres | $2,500,000 | $2,500,000 | Roohani Khusrow | N-94807 |
Torina & Tenaya | 2.5 acres | $285,000 | $285,000 | Lexiland, LLC | N-92830 |
Pebble & Monte Cristo | 2.5 acres | $238,000 | $278,000 | American West Development | N-94809 |
Blue Diamond & Park | 1.25 acres | $63,200 | $83,200 | Allay Investment, LLC | N-81973 |
Richmore & Monte Cristo | 2.5 acres | $133,000 | $223,000 | Monte Cristo Way Realty, LLC | N-94810 |
Silverado Ranch & Dean Martin | 12.5 acres | $1,875,000 | $1,875,000 | Turtle Beach Productions | N-94814 |
Frias & Dean Martin | 17.5 acres | $5,500,000 | $5,500,000 | American West Development | N-94816 |
Rush & Polaris | 5 acres | $1,920,000 | $1,920,000 | American West Development | N-94817 |
Frias & Arville | 2.5 acres | $675,000 | $675,000 | American West Development | N-94818 |
Frias & Arville | 2.5 acres | $213,000 | $283,000 | Malik Umer Zahid | N-94819 |
Haleh & Hinson | 2.5 acres | $260,000 | $260,000 | Malik Umer Zahid | N-85664 |
Haleh & Hinson | 5.0 acres | $455,000 | $505,000 | Malik Umer Zahid | N-81967 |
Cactus & Arville | 2.5 acres | $930,000 | $1,010,000 | Lexiland, LLC | N-94820 |
All successful bidders paid the required 20 percent of the bid by 3 p.m. today. The remainder of the bid is due within 180 days (January 30, 2018.)
In accordance with the joint selection process, unsold parcels must be re-nominated for consideration at future land sales by the local government.
In accordance with the SNPLMA, funds generated from the sale of public land may be used for specific purposes including parks, trails, and natural areas; capital improvements, conservation initiatives; and for the purchase of environmentally sensitive lands. Additionally, 10 percent of the funds will go to the Southern Nevada Water Authority, and five percent will go to the Nevada State General Education Fund.
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The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.