Water Managers Work to Finance US Sugar Deal

Water managers in south Florida may offer Wall Street more than a quarter-million acres of state-owned lands, including thousands of acres of Everglades restoration tracts, as collateral to finance Gov. Charlie Crist’s large land deal with U.S. Sugar Corp. and future environmental projects, according to the Palm Beach Post.

Reporter Paul Quinlan writes: The 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.

Click here to read the full story.