Almost 64 acres of Las Vegas Valley land sold in BLM auction
Buyers picked up almost 64 acres of Las Vegas Valley land at a federal auction Thursday.
The Bureau of Land Management said it sold 13 parcels, comprising 63.75 acres, for about $15.4 million. The agency had offered 81.25 acres.
The largest parcel, 17.5 acres, sold for $5.5 million to builder American West Homes.
The auction was held in Henderson City Council chambers. All successful bidders have paid the required 20 percent of their purchase price, and the remainder is due within 180 days, or by Jan. 30, 2018, according to the BLM.
As called for by the Southern Nevada Public Land Management Act, sales proceeds may be used for parks, trails and conservation initiatives, among other things.
Also, 10 percent of the funds will go to the Southern Nevada Water Authority and 5 percent to Nevada’s general education fund, the BLM said.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.