BLM Revises Land Sale Figures

By: Associated Press
By: Associated Press

The federal Bureau of Land Management has revised figures following a southern Nevada land auction, saying it sold just under 744 acres for $127.1 million.

Agency officials first reported following Thursday's auction that 750.5 acres were sold for almost $131 million. The BLM had hoped to auction 2,723 acres and raise at least $361 million.

BLM officials said in a statement issued late Thursday that rechecking auction results found that 51 of 59 parcels sold, at an average of $173,245 per acre. The statement said most properties that did not sell will be offered for sale on the Internet.

Bidders at the auction at a Las Vegas hotel-casino auditorium passed on the biggest parcel totaling 1,940 acres, or about 3 square miles in Henderson. It had been expected to fetch at least $250 million.

Agency officials said they expect the parcel will sell at auctions in May or next November.

Thursday's auction was the ninth conducted under the 1998 Southern Nevada Public Land Management Act, which lets the BLM free federal land for sale in the fast-growing Las Vegas area.

Money from the sales goes to schools, water infrastructure and to buy environmentally sensitive lands in Clark County and around the state.

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On the Net:

Nevada Bureau of Land Management: http://www.nv.blm.gov


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