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 The
Department of Environmental Protection, pending Governor and Cabinet
approval, has reached a preliminary agreement with Kitson and Partners,
Inc. to purchase close to 74,000 acres of land in Babcock Ranch.
If the acquisition is approved, Babcock Ranch will complete a natural
land corridor from Lake Okeechobee to the Gulf of Mexico and provide
a wealth of recreational activities for outdoor enthusiasts as well
as important habitat for some of Florida’s most endangered species.
If approved, the 74,000-acre purchase will represent the preservation of the
single largest tract of contiguous conservation lands in the state’s
history while at the same time providing a vitally needed water-recharge
area for Southwest Florida.
Having acquired more than one-million acres in the last five
years, the State of Florida, through the Florida Forever
program, is committed to acquiring and preserving
environmentally-sensitive land, and preserving historical and
cultural sites.
Total Purchase Price: $350 million
The State is purchasing the property for $350 million, which is
$44 million less than the appraised value and equates to an average
per acre price of $4,763.
- $200 million: Florida Forever program, following approval
by the Governor and Cabinet.
- $100 million: State of Florida General Revenue or bonding,
following approval by the Florida Legislature.
- $40 million: Lee County, following approval by the Lee County
Board of County Commissioners
- $5 million: Florida Fish and Wildlife Conservation Commission,
following approval by the Florida Fish and Wildlife Conservation
Board of Commission.
- $5 million: Florida Department of Agriculture and Consumer Services.
Acres acquired by the State: 73,476 acres
Acres retained by Kitson and Partners: 18,206 acres
State acquisition schedule:
- July, 2006: Purchase 32,500 acres for $162.5 million
- July, 2007: Purchase 13,659 acres for $62.5 million
- July, 2008: Purchase 13,659 acres for $62.5 million
- July, 2009: Purchase 13,659 acres for $62.5 million
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- The preliminary Management Agreement will preserve
and sustain the quality of the Property as conservation land
and habitat for many valuable plant and animal ecosystems
and prevent any use which would threat conservation value.
- The manager of the land will be required to re-invest
any profits made from the ranch or other businesses on the property
back into the management and preservation of the land.
- Upon completion of the land management plan, the manager
is required to follow that plan to protect and conserve the
land.
- This preliminary agreement will be for a five year
period from the Commencement Date, and will automatically be
extended for an additional five year period.
- Manager will provide public access to the Property in areas
deemed appropriate and safe by the Board of Trustees, and as
provided in the management and business plans.
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What is the State of Florida announcing?
As part of its continuing commitment to preserve the Babcock Ranch,
the Department of Environmental Protection has reached an preliminary
agreement with Kitson and Partners, Inc. to purchase close to 74,000
acres of land in Babcock Ranch.
Babcock Ranch is home to the Florida panther, Florida black bear
and other threatened and endangered wildlife such as the crested
caracara. The ranch includes large, well managed areas of pine and
scrubby flatwoods along with a highly functional freshwater swamp
system known as Telegraph Swamp. Acquisition of the Babcock Ranch
would complete a massive natural land corridor from Lake Okeechobee
to the Gulf of Mexico.
If approved, the 74,000-acre purchase will represent the preservation
of the single largest tract of contiguous conservation lands in
the state’s history.
Question List
What does the preliminary agreement involve?
The Department is proposing to acquire 73,476 acres of Babcock Ranch
for $350 million over five years.
- July, 2006: Purchase 32,500 acres for $162.5 million
- July, 2007: Purchase 13,659 acres for $62.5 million
- July, 2008: Purchase 13,659 acres for $62.5 million
- July, 2009: Purchase 13,659 acres for $62.5 million
Question List
How is the state of Florida paying for the property?
The State is purchasing the property for $350 million, which is
$29 million less than the appraised value and equates to an average
per acre price of $4,763.
- $200 million: Florida Forever program, following approval
by the Governor and Cabinet.
- $100 million: State of Florida General Revenue or bonding,
following approval by the Florida Legislature.
- $40 million: Lee County, following approval by the Lee County
Board of County Commissioners
- $5 million: Florida Fish and Wildlife Conservation Commission,
following approval by the Florida Fish and Wildlife Conservation
Board of Commission.
- $5 million: Florida Department of Agriculture and Consumer Services.
Question List
Is the State buying the Babcock Corporation?
No. The state of Florida is purchasing close to 74,000 acres of
land with a working ranch.
Kitson and Partners, through their contract with the Babcock
Trust, is purchasing the Babcock Corporation and its stock.
The State, however, will acquire a working ranch on the property
that will remain in operation. The land will be accessible to the
public for camping, biking, horseback riding, cabins and other outdoor
recreational activities.
Question List
Who will manage the ranch and the property?
Once the first phase of the property is purchased, the State of
Florida will develop a land management plan that provides for the
preservation and protection of the property while also allowing
for the continued operation of the ranch.
Due to the complexity of balancing a working ranch, outdoor recreation
and wildlife management, the State is proposing that a not-for-profit
agency be established to manage the land. Pending approval and creation
by the Florida Legislature, the non-profit agency would have a board
of directors appointed by the Governor and Cabinet with a diverse
range of expertise in land management, ranch operations, wildlife
management and outdoor recreation.
Kitson and Partners will manage the ranch and total property
for ten years following the first acquisition in July 2006. This
will allow Kitson and Partners to meet their commitment to the Babcock
Family to maintain operations of the ranch for a decade. Kitson
and Partners are required to operate the land in accordance with
the management plan, in cooperation with the not-for-profit agency.
Following the fulfillment of Kitson and Partners obligations, the
not- for-profit agency would assume full responsibility for managing
the land and ranch.
Question List
If Kitson and Partners has not purchased the ranch, how can
the state negotiate with them?
Kitson and Partners has entered into a contract to buy the land
with the Babcock Trust. With the authorization of the Babcock Family,
Mr. Kitson was allowed to negotiate with the State to preserve the
Babcock Ranch.
The preliminary agreement provides for the contingency that
Kitson and Partners must close on the property with the Babcock
Family before they can sell the proposed property to the state
of Florida.
Question List
What will happen to the parcels the State is purchasing prior
to their closure over the next five years?
Kitson and Partners have agreed to manage all land to be purchased
by the State in accordance with the State’s land management plan
that will be developed after the first acquisition in July 2006.
Question List
Does the preliminary agreement provide the counties and Kitson
and Partners with the opportunity to access water on the
property?
The preliminary purchase agreement allows Kitson and Partners
to access water on the State’s property. The details of this
provision will be further defined prior to Governor and Cabinet
approval. Kitson and Partners will be required to secure any
necessary permits for the planned water use.
Question List
How will the investment affect other Florida Forever
projects?
The 10-year, $3 billion Florida Forever program was established
by Governor Bush and the Florida Legislature to acquire environmentally-sensitive
land, restore water resources and preserve historical and cultural
sites. By purchasing the land over five years, the State can continue
to pursue other priority land purchases while also putting into
the public trust this treasured ecosystem.
What happens next?
The preliminary agreement will be presented before the Governor
and Cabinet on October 25, 2005 for approval.
Question List
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2012 State of Florida