THE NEWS SERVICE OF FLORIDA – Florida Crystals has agreed to turn over nearly 8,700 acres of sugar-cane land to the South Florida Water Management District for more than 4,500 acres that had once been owned by U.S. Sugar Corp. The land swap, which still requires a final approval from the district governing board, is intended to expand an existing stormwater treatment area near the Loxahatchee National Wildlife Refuge. The land near Lake Okeechobee that the district is exchanging was part of a 26,800-acre, $197 million purchase from U.S. Sugar Corp. in 2010. District officials, who last week agreed to move forward with the deal, have estimated the land the district will get is worth $20 million more than the farm land that is returning to private hands. Florida Crystals, in announcing support for the deal, noted that moving from the fertile muck farm land it is giving up for “subpar” sandy soils east of Pahokee will cost the company about $20 million.
http://www.newsserviceflorida.com
 |  |  |  |  |  |  |  |  |