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BLM land sale generates almost $25 million

Wed, Nov 30, 2016 (4:15 p.m.)

The Bureau of Land Management (BLM) sold 135 acres in 12 parcels for $24.9 million during a competitive public land sale on Wednesday.

The agency offered 182.93 acres, in 16 parcels, under the Southern Nevada Public Land Management Act (SNPLMA). Las Vegas valley parcels offered for sale varied in size from 1.25 to 37.5 acres.

American West Development bought five of the 12 parcels, including a 12.5-acre parcel for $2.4 million at Torino Avenue and Santa Margarita Street in the southwest part of the valley, and a 37.5-acre parcel for $5.25 million at Pebble Road and Montessouri Street. Haikal Exemption Trust successfully bid $3.5 million for 25 acres at Warbonnet Way and Pebble Road.

All successful bidders paid the required 20 percent of the bid by 3 p.m. Wednesday. The remainder of the bid is due by May 29.

Funds generated from the sale of public land may be used for 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 5 percent will go to the Nevada State General Education Fund.

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