State considers Everglades as collateral to finance U.S. Sugar deal
by Michael C. Bender | July 15th, 2009The South Florida Water Management District has identified 283,000 acres worth $1.5 billion — including preserve lands, filter marshes and Everglades-area wetlands — that could be used to guarantee some of the $2.2 billion they intend to borrow to buy the U.S. Sugar land and recreate the historic flow of water from Lake Okeechobee to the Everglades.
The proposal, which water managers say remains under consideration, emerged in internal agency e-mails and other documents that opponents of the U.S. Sugar deal have cited in their legal battle to block financing for what would be the state’s most expensive conservation land purchase ever.
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July 15th, 2009 at 5:11 pm
[...] buying from U.S. Sugar Corp; yesterday’s news that water managers might need to offer $1.5 billion of restoration land as collateral to finance the purchase; and Palm Beach Post reporter Paul Quinlan’s account this Sunday on [...]