UNDATED (AP) - Florida has reached a tentative deal with U.S.
Sugar to revise a proposed land buy meant to boost Everglades
restoration, significantly lowering the initial $1.75 billion cost.
The revised deal for a territory about the size of the city of
Chicago would mean the state will not buy the company's high-tech
sugar mill, railroad lines and citrus processing plant. However,
the overall acreage involved in the deal wouldn't be significantly
Gov. Charlie Crist is scheduled to announce the potential deal
Under the initial proposal, U.S Sugar was set to go out of
business after six years once the deal was signed. Now it's unclear
how long the land will remain in agriculture since the new proposal
calls for farming to be phased out over time as restoration
projects are designed. That could mean the company - which has
about 1,700 employees - will remain in business longer.
(Copyright 2008 by The Associated Press. All Rights Reserved.)