Published:
Views: 1680

Florida Renegotiates Largest U.S. Land Purchase of 2008

The $1.75 billion purchase by the state of Florida of 187,000 acres in the Everglades belonging to U.S. Sugar has been renegotiated and substantially bettered. The state will no longer take title to the company’s high-tech mill, its citrus processing plant,


The $1.75 billion purchase by the state of Florida of 187,000 acres in the Everglades belonging to U.S. Sugar has been renegotiated and substantially bettered. The state will no longer take title to the company’s high-tech mill, its citrus processing plant, or its rail lines. The number of acres has also been decreased by 6,000 to 181,000. Net savings? A whopping $400+ million.

On June 24, the state of Florida announced its plan to purchase an enormous tract around Lake Okeechobee in a landmark transaction that was reported here. The subsequent economic upheaval led to a substantial overhaul of the deal, one that saw the total number of acres decline by roughly 3 percent while 25 percent was pared off the total purchase price, lowering it to $1.34 billion.

“The financial and real estate world has changed since the transaction was announced on June 24,” leading to the change in terms, U.S. Sugar said in a statement that was reported by the Associated Press.

Supporters of Everglades restoration hailed the new deal, which Gov. Charlie Crist is scheduled to announce later this morning at the Miami home of Marjory Stoneman Douglas, a renowned Florida environmentalist and the author of The Everglades: River of Grass.

Tagged with: , , , , , ,
Posted in Conservation, Eric OKeefe, Farming, Feature, News Desk, Public Land, Recreation, Regional News, South, Topics, Water

EMAIL SIGNUP

Please sign me up to receive breaking news and updates from the Land Report!

Latest Tweets

News By Region

The Land Report | 2019 America's Best Brokerages
The Land Report is proudly partnered with: Hall and Hall Bates Land Consortium Mossy Oak Properties United Country Real Estate Live Water Properties Fay Ranches Inc. Mirr Ranch Group californiaoutdoorproperties.com Whitetail Properties TerraStone Land Company Hayden Outdoors Real Estate Western Ranches LandLeader

Contact to Listing Owner

Captcha Code
Pacific West Great Plains Great Lakes Midwest Southwest South Northeast Pacific West Great Plains Great Lakes Midwest Southwest South Northeast