The district's governing board cut the deal earlier this yearand agreed to give the district a $34-million credit for thetransaction. However, the district has to agree to give thelandowner, the Speight family, 2,500 acres it owns off LakeKissimmee in southeast Polk County. The district wants theSpeight's 4,500 acres as part of a watershed project in GladesCounty, agency staffers confirm for GlobeSt.com.

The district acquired 3,000 acres from the Speights in 2004 for$18.5 million or $6,167 per acre (14 cents per sf). The land isnorth of State Road 60 near the Polk-Osceola county line, about 65miles south of Downtown Orlando. The district, however, needs onlyabout 300 acres of the 3,000 acres it purchased. The 300 acres willbe part of an ongoing $500-million state and federal KissimmeeRiver restoration project, district sources tell GlobeSt.com. Thedistrict would also keep 150 acres for public access to LakeKissimmee.

However, residents near the district's 3,000 acres in PolkCounty fear their rural lifestyle will be altered if the Speightsstart new development on the low-lying 2,500 acres which sits on aflood plain, area sources following the controversy tellGlobeSt.com.