BLM Sold 414.03 acres for $49,745,000

Las Vegas --The Bureau of Land Management (BLM) today sold 414.93 acres in 30 parcels for $49,745,000 during a competitive-public-land sale. The agency offered 516.18 acres, in 40 parcels, under the Southern Nevada Public Land Management Act (SNPLMA).

The parcels offered for sale varied in size from 1.25 acres to 160 acres.

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. Unsold parcels will be offered in future land sales.

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.

See more here: http://www.blm.gov/nv/st/en/info/newsroom/2014/december/southern_nevada__.html