Okeechobee Land Development has announced a land donation worth $53 million and 2,256 acres near Lake Okeechobee in Florida. It will eventually help clean up polluted runoff flowing into local waterways has set a new standard in public-private partnerships. Martin County Commissioners unanimously endorsed the project at their board meeting, and the South Florida Water Management governing board is set to approve the project.
A rare opportunity exists to create a water management facility, while concurrently donating wetlands and forested uplands, all at minimal or no cost to the public. This project will provide South Florida Water Management District with a largely completed water treatment and transfer hub/reservoir and adjacent wetland filter marsh storm water treatment area as a land donation.
Under this proposal, Lake Point would forego its permitted plans for an equestrian/residential development, and instead provide the majority of the groundwork for the facility prior to donating it to the district. Despite the land cost being in excess of $53 million, this proposal is made possible by the owner's potential ability to offset its costs by excavating and selling the shallow limestone rock deposits at the site, which could be used for various infrastructure and commercial projects.
When completed, the property, which is strategically located with connections to the C-44 canal, L-8 Canal and Lake Okeechobee, will contain a complex of reservoirs and storm water treatment areas. County records indicate the Lake Point Project will also reduce the amount of freshwater discharged from Lake Okeechobee into the St. Lucie River. According to records, the storm water treatment areas are expected to remove 2.6 to 7.7 metric tons of phosphorous per year from the C-44 Basin.
