Greenwire: An expensive plan for the state of Florida to purchase many thousands of acres vital to the potential restoration of the Everglades from a major landowner, United States Sugar Corp., overvalued the land by up to $400 million, according to independent reviews of the deal.
Supporters of the deal — which has been scaled down in acreage and cost, from $1.75 billion to $536 million, thanks to the recession — say it would allow future water management projects to be built through Florida’s heartlands. But the deal’s anticipated cost has already caused the suspension or cancellation of more than a dozen restoration projects, including a massive reservoir seen as vital to the Everglades effort.
Former Florida Gov. Jeb Bush (R), who began much of the earlier restoration projects, said he was “deeply disappointed” in the decision made by Gov. Charlie Crist (R) to halt those efforts.
“To replace projects that were under way for a possibility of a project decades from now is not a good trade,” Bush said. “On a net basis, this appears to me there has been a replacement of science-based environmental policy for photo-op environmental policy.”
The reduced deal retains price evaluations made during the height of Florida’s real estate bubble and represents “a fantastic deal” for U.S. Sugar, said a former senior executive of the company.
“I won’t lie to you — it’s a damn good price for that land,” said the executive. “But it’s not as good a deal for the Everglades. If the district doesn’t have any money after this purchase, then they won’t be able to do any restoration projects. It could be a disaster in the making.”
Many environmental groups have been tentative to attack the proposal, which is set to be finalized later this month. But, as constituted, it could delay restoration efforts for the treasured region by years or more.
“What you have is just another step in the category of kicking the ball down the road and chasing it,” said Alan Farago, the conservation chairman of Friends of the Everglades (Cave/Van Natta, New York Times, March 7). – PV