Land Sale Generates More Than $19.2 Million for Projects
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Las Vegas --The Bureau of Land Management (BLM) today sold 357.59 acres in 13 parcels for $19,220,000 during a competitive-public-land sale. The agency offered 597.59 acres, in 29 parcels, under the Southern Nevada Public Land Management Act (SNPLMA). The parcels offered for sale varied in size 1.25 to 247.6 acres.
Successful bidders included:
Location | Size | Fair Market Value | Purchase Price | Successful Bidder | Parcel Number |
Cougar & Rosanna | 2.5 acres | $600,000 | $600,000 | Khusrow Roohani | N-93072 |
Ford & Rosanna | 2.5 acres | $600,000 | $600,000 | Khusrow Roohani | N-93074 |
Augusta Course & Royal Course | 17.5 acres | $2,200,000 | $2,200,000 | Olympia Land, LLC | N-93075 |
Torino & Quarterhorse | 5 acres | $1,500,000 | $1,600,000 | KB Home Las Vegas, Inc. | N-81949 |
Raven & Blanco Vista | 5 acres | $1,600,000 | $1,600,000 | KB Home Las Vegas, Inc. | N-93078 |
Agate & Miller | 10 acres | $1,350,000 | $1,350,000 | Khusrow Roohani | N-93079 |
Jo Rae & Arville | 1.25 acres | $150,000 | $210,000 | Khusrow Roohani | N-93080 |
Jo Rae & Hinson | 3.75 acres | $400,000 | $570,000 | American West Development, Inc. | N-93081 |
Pyle & Le Baron | 12.5 acres | $1,350,000 | $2,520,000 | Riaz Rohani | N-84197 |
Hollywood & Cheyenne | 247.59 acres | $1,850,000 | $1,850,000 | Sao Tome, LLC | N-91124 |
Warm Springs & Lisbon | 10 acres | $550,000 | $550,000 | D. R. Horton, Inc. | N-93062 |
Venice & Lisbon | 15 acres | $1,320,000 | $1,410,000 | D. R. Horton, Inc. | N-93071 |
Corp Limit & Radcliff | 25 acres | $2,500,000 | $4,160,000 | American West Development, Inc. | N-80739 |
All successful bidders paid the required 20 percent of the bid by 3p.m. today. The remainder of the bid is due within 180 days (November 2, 2015).
In accordance with the joint selection process, unsold parcels must be renominated for consideration at future land sales by the local government
In accordance with the SNPLMA, monies 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.
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.