BLM auctions northwest valley parcels for $93 million; funds will go to parks projects

LAS VEGAS (KLAS) — Developers bought nearly 600 acres in the northwest valley at a BLM auction last week that will bring almost $80 million for parks and other environmental projects.

The largest parcel of land — 505 acres near the west end of Centennial Parkway — sold to developer Lawrence Canarelli for $55 million. Many of the smaller parcels are located in the area near the Kyle Canyon Road (SR-157) interchange with U.S. 95.

The largest parcel auctioned last week by the BLM is shaded in green and circled in blue. Smaller parcels are also shown in green in this map of the northwest Las Vegas valley provided by the BLM.

The BLM announced Thursday that nine parcels covering 589.53 acres sold for a total of $93,141,000. From that total, 85% will go to “development of parks, trails, and natural areas; capital improvements on federal lands; acquisition of environmentally sensitive land; hazardous fuels reduction; and landscape restoration projects,” under the terms of the Southern Nevada Public Land Management Act of 1998.

The remaining 15% will go to the State of Nevada General Education Fund (5%) and the Southern Nevada Water Authority (10%).

The BLM said local governments nominated the parcels for sale, often after interested parties expressed interest in purchasing them. BLM removed a 225-acre parcel from the sale, due to an appraisal issue. This parcel will be included in a future sale.

Original News Source Link – KLAS

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