Marketwatch reports, on August 5, that the St. Joe Company-- Florida's largest landowner-- executed a contract for the sale of 67,365 acres of non-strategic rural conservation land in Liberty, Jefferson, Gulf and Franklin Counties. "The sale will be closed in two transactions for a total price of $130.4 million. The first sale of 39,359 acres for $67.3 million is scheduled to be completed in the fourth quarter of this year. The second sale of 28,005 acres is scheduled for the second quarter of 2009 at a price of $63.1 million. These transactions are subject to ongoing due diligence review and customary closing conditions."
Now let's see if I get this right: St. Joe is selling large tracts of land from $1700 to $2400 per acre.
US Sugar just made a deal with the State of Florida to sell 187,000 acres of land for $9400 per acre.
Location is everything. But still... isn't Big Sugar farming the soil down to bedrock, exhausting the peat muck it is grown in?
It just makes me curious: how is it reasonable to pay $9400 per acre, when Florida could have condemned the land in the EAA to establish a fair and reasonable price in court. What am I missing?
1 comment:
You are missing a bunch of Lobbyists and Politicians scurrying off thru the swamp ,pockets bulging with purloined taxpayer dollars.
One day everyone will wake up and realize this deal stinks.
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