Tuesday, May 19, 2009

Sugar company buyout for Everglades restoration approved by board

The state of Florida's buyout of U.S. Sugar Corp. to restore the Everglades is a step closer to reality after the South Florida Water Management District approved of the deal last week, according to the Miami Herald and other sources.

The water district's governing board agreed to a scaled-back version of the original plan for the state to buy out the sugar company and take over the land. Florida lawmakers had threatened to disapprove of the deal back in December -- which still could happen -- and there is still the issue of funding. Previously, the state proposed to pay more than a billion dollars for 180,000 acres; last week, water managers approved of $536 million for 72,800 acres.

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