Yerington lands bill passes senate
The City of Yerington and Lyon County announced that the U.S. Senate on Friday passed legislation to transfer 10,400 acres of land from the federal government to the City of Yerington. The same bill passed the House of Representatives on Dec. 5. The “Land Conveyance to Yerington, Nevada” was included in the National Defense Authorization Act and will now go to President Obama for signing before year-end.
Yerington, Lyon County and Nevada Copper Inc. have worked for over five years to develop and implement this proposal. Though it has been characterized as a “land bill”, it is still asserted that this is a jobs and economic development bill. It not only expedites development of the Nevada Copper Pumpkin Hollow Mine, but enables the city to collaborate with the company to integrate infrastructure for current and future economic development.
It also allows Yerington to get a share of property and net proceeds of minerals taxes.
At the same time Nevada, the county and other county level tax entities, including the Lyon County School District, South Lyon Hospital District and Mason Valley Fire Protection District will continue to receive a share of those taxes. It will also result in significant sales and use tax revenues for the purchases of equipment, material and supplies during construction and operation of the mine. These will help all of the local government entities to begin a substantial recovery from more than five years of economic strife created by the recession. Lyon County and Yerington have suffered more and longer from high unemployment, migration of residents out of the county and home foreclosures, from which they have just barely begun to recover.
Nevada Copper is currently investing approximately $60 on its current shaft construction, $330 million on the current development of the Stage 1 underground mine and mill, and approximately $1 billion on the future, expedited development of the Stage 2 open pit mine.
Several other items were included in the lands bill from across the state, but not the Douglas County lands bill, which is stalled in the House of Representatives.