Las Vegas Sun

March 28, 2024

Compromise reached on public land auctions bill

CARSON CITY -- A major roadblock has been removed to a bill that would require all governments to get appraisals and sell property at public auctions, instead of allowing private deals.

Backers of Assembly Bill 312 and Las Vegas officials reached a compromise to allow property planned for redevelopment or economic development to bypass the public auction requirement. The compromise was presented to the Senate Government Affairs Committee, which said it would vote on Friday.

Las Vegas City Attorney Brad Jerbic said the compromise would permit local governments to sell property at below the appraised or market value in order to spark economic develop in these area.

Assemblyman Scott Sibley, R-Las Vegas, insisted that local governments would still have to have two appraisals on the property. He cited a deal in Henderson in which the land was appraised for $10 million and sold for $7 million.

He said the public should know that those transactions are taking place and have a chance to judge whether the economic development projects were worthwhile.

Las Vegas Mayor Goodman said there was no problem to getting the required two appraisals. He told the committee the transactions are done in public. "There are no secret deals," he said.

Sibley and Assemblywoman Chris Giunchigliani, D-Las Vegas, and Marilyn Kirkpatrick of North Las Vegas pushed for the bill. Kirkpatrick said the compromise was reached to bring "incentives" to companies to locate in redevelopment areas and bring new jobs and business activity.

The bill requires that the state, counties and cities must have two appraisals and they must be done within six months before the auction. If the property is not sold, it must be offered for auction a second time. If that fails, than the property may be listed with a broker at the appraisal price for sale.

The legislation follows questions raised about a number of deals in Southern Nevada including one involving McCarran International Airport property.

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