The Real Deal Miami

Water managers approve Everglades plan

June 30, 2008 02:56PM

Water managers unanimously endorsed the state’s $1.7 billion buyout of the U.S. Sugar Corp. to control more than 187,000 acres in the Everglades. The managers approved as much as $5 million in spending on appraisals and environmental studies; $2 million more will be needed after October 1st. The purchase is expected to exceed $3.5 billion over the next 30 years, including the interest on loans required.