County settles Lake Point lawsuit; gains over 400 acres adjacent to C-44/Okeechobee Waterway

 

The Martin County Board of County Commissioners (BOCC) approved a legal
settlement with the owners of Lake Point today, coming after the South Florida Water
Management District’s settlement with Lake Point in August.

“After months of working toward a resolution through court-ordered mediation, we
have reached an agreement which we believe is in the best financial interest of the
County. The settlement is considerably less than the original amount requested by
Lake Point, and will be structured with payments over time to offset the impact to
residents,” said Board Chairman Doug Smith.

As part of the settlement agreement, the County will purchase over 400 acres of land
adjacent to the C-44/Okeechobee Waterway to develop as a stormwater treatment
area (STA), providing significant environmental benefits as well as other uses for 12
million dollars.

In the spirit of cooperation, the County is formally apologizing to the Lake Point
owners, principals and its employees. “We realize the meaningful economic
contribution of the continued public-private partnership with Lake Point, and this
settlement allows us to move forward in our continued efforts to protect and improve
environmental resources of Martin County,” said Taryn Kryzda, County
Administrator.

This case began in 2013 and is set for trial in February 2018. By settling the case, the
County eliminates its exposure for possible damages and the further expenditure of
attorney’s fees and costs. It also reconfirms its support for the Lake Point Public
Works Project.

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