Lake Point Restoration is a public/private partnership. Targeted for acquisition by the District years ago and given other pressing needs, the investment was just too much. It’s a desirable location because it’s adjacent to the C-44 and because it’s less than a mile east of Lake Okeechobee.
The agreement between Lake Point and the South Florida Water Management District calls for mining to take place to a certain depth over an indefinite period of time. When the demand for aggregate was high, that could have taken 20 years. With today’s demand, no one really knows. But, whenever that trigger is reached, mining ends, Lake Point is required to prepare some water treatment areas and the land gets turned over to the Water Management District. Likewise the District has some contractual obligations. Of course, the agreement was signed before this difficult economic downturn.
Here’s a brief summary of the agreement:
- Donation of approx 2,200 acres of land owner retains rock mining rights (Approx. 1,000 acres for 20 years)
- 1,000 acres western portion to be actively mined in a reservoir with max depth of 20 feet over a 20-year —period at the owner’s expense
- Approx 800 acres east of the Property to be a future stormwater treatment area graded at the owner’s expense
- Approx 150 acres, in the NE uplands corner, adjacent to the C-44 canal, to be donated to Martin County for recreation