The Real Deal Miami

U.S. Sugar agreement reached

November 26, 2008 11:45AM

The South Florida Water Management District and U.S. Sugar Corp. have finished negotiating the state’s purchase of U.S. Sugar land
for Everglades restoration. The state plans to buy 180,000 acres for
$1.34 billion, and U.S. Sugar will lease back some of the land for $50
per acre until 2016. The agreement, which allows the state to sell
3,000 acres of the land to municipalities for parks or public use, is
expected to be signed by December 16.