PB County may consider selling part of its Agricultural Reserve

PB County may consider selling part of its Agricultural Reserve

Sunday, July 30, 2017

Part of the Agricultural Reserve (Credit: Boca Raton magazine)

Palm Beach County commissioners may consider selling a 571-acre tract of land in the Agricultural Reserve, a 22,000-acre zone the county has set aside for conservation and agriculture. Commissioner Steven Abrams said the land may be worth more than $200 million – enough to close the county’s projected budget shortfall of $48 million in 2019.

The county shares ownership of the land with the South Florida Water Management District, which has suggested a joint sale of the land. The water district bought a 61 percent share for $13.7 million in 2006. The proposed county budget for 2018 allocates $3 million as part of a $9 million plan to buy the district’s share of the land in phases. Commissioners expect to finalize the budget in September after two public hearings. [Palm Beach Post] Mike Seemuth


Source: The Real Deal