Coming into Focus: Cost of the Sector Plan
The proposed new airport is at least $252 Million, and now it's becoming clear that the 37,000 acre "West Bay Preservation Area" is 10,000 acres of pinelands donated for airport mitigation, about 14,000 more acres of pinelands for various mitigations, and finally about 13,000 acres of waterfront and riparian buffer lands to be offered for sale to the State of Florida, subject to funding for the airport being approved first. If pineland donated for the airport is $3,000 per acre, let's assume conservation land is $12,000 per acre, being much more desirable. So, conservation costs will total $150+ Million.
Summing up, the front-end cost of the Sector Plan is north of $400 Million, before the first tax nickel is collected or the first industrial employer is recruited. If the State declines to buy the conservation land, it remains the property of The St. Joe Company, and the shoreline development wrangle continues. The airport is moved to the St. Joe Sector, and the eastern county waits for the St. Joe tide to lift its boat. You won't need to hold your breath - this tide isn't coming any time soon.
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