BLM Public Land Auction Nets Seven Million
Phoenix, Ariz – Today, the Bureau of Land Management (BLM) sold a 282.50 acre parcel, taking in $7,000,000 under the Federal Land Transaction Facilitation Act (FLTFA). Members of the public were welcome to attend the event held at the BLM-Phoenix District. Not a chair was empty as spectators and prospective bidders filled the room waiting for the auction to begin. The parcel is nestled at the base of the Estrella Mountains in Goodyear, Ariz.
Following the auction, the successful bidders, Voyager Properties and Cole Company, a joint venture paid the required 20 percent of the bid amount, and will be required to pay the remainder within 180 days. Voyager Properties and Cole Company are based in Scottsdale, Ariz.
This is the first competitive sale of federal BLM public land in Arizona since the passage of FLTFA in the year 2000. Eighty percent of the revenues generated from this public land sale go into a special FLTFA account available to the Secretaries of the Interior and Agriculture for acquiring inholdings within certain federally designated areas, or lands adjacent to those areas and containing exceptional resources.
For more information about BLM public land sales and the Federal Land Transaction Facilitation Act, please visit www.blm.gov/az/