Florida’s water managers agreed to buy nearly 300 square miles of land from United States Sugar on Tuesday, approving a $1.34 billion deal that could reshape the Everglades, the sugar business and several small towns that have relied on agriculture for decades. The decision by the board of the South Florida Water Management District, by a vote of 4 to 3, with one abstention, moves the state closer to completing its largest and most expensive environmental acquisition. But supporters and opponents said economic uncertainties could keep the deal from closing. Board members were so concerned about the worsening financial picture that they added an amendment to the contract that says its debt burden from the purchase must not “adversely affect” the district’s core operations, like flood control. Tuesday’s vote begins a 60-day auction period, in which competing offers — one has been made, by a family-owned farming company called the Lawrence Group — must be considered by United States Sugar’s shareholders. Florida Crystals, a politically powerful competitor that owns strategically located land for restoration, has also sued to stop a state court from approving the state’s contract....
Wednesday, December 17, 2008
Florida Water Board, Voting 4 to 3, Approves U.S. Sugar Deal in the Everglades
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Florida’s water managers agreed to buy nearly 300 square miles of land from United States Sugar on Tuesday, approving a $1.34 billion deal that could reshape the Everglades, the sugar business and several small towns that have relied on agriculture for decades. The decision by the board of the South Florida Water Management District, by a vote of 4 to 3, with one abstention, moves the state closer to completing its largest and most expensive environmental acquisition. But supporters and opponents said economic uncertainties could keep the deal from closing. Board members were so concerned about the worsening financial picture that they added an amendment to the contract that says its debt burden from the purchase must not “adversely affect” the district’s core operations, like flood control. Tuesday’s vote begins a 60-day auction period, in which competing offers — one has been made, by a family-owned farming company called the Lawrence Group — must be considered by United States Sugar’s shareholders. Florida Crystals, a politically powerful competitor that owns strategically located land for restoration, has also sued to stop a state court from approving the state’s contract....
Florida’s water managers agreed to buy nearly 300 square miles of land from United States Sugar on Tuesday, approving a $1.34 billion deal that could reshape the Everglades, the sugar business and several small towns that have relied on agriculture for decades. The decision by the board of the South Florida Water Management District, by a vote of 4 to 3, with one abstention, moves the state closer to completing its largest and most expensive environmental acquisition. But supporters and opponents said economic uncertainties could keep the deal from closing. Board members were so concerned about the worsening financial picture that they added an amendment to the contract that says its debt burden from the purchase must not “adversely affect” the district’s core operations, like flood control. Tuesday’s vote begins a 60-day auction period, in which competing offers — one has been made, by a family-owned farming company called the Lawrence Group — must be considered by United States Sugar’s shareholders. Florida Crystals, a politically powerful competitor that owns strategically located land for restoration, has also sued to stop a state court from approving the state’s contract....
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