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Babcock Ranch

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The State of Florida reached an agreement with Kitson and Partners, Inc. to purchase close to 74,000 acres of land in Babcock Ranch. The acquisition of the 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. The purchase represents 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. Straddling the border between Charlotte and Lee counties, the private 91,000- acre Babcock Ranch was one of the largest remaining undeveloped tracts of land in southwest Florida.

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

Florida Department of Environmental Protection's web site describing the deal, the land , etc. -The link address is: http://www.dep.state.fl.us/secretary/news/2005/babcock/default.htm

  1. Herald Tribune - Babcock Ranch - In Depth
  2. Babcock Ranch Web Site

 

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