TALLAHASSEE, FL, Jan. 7, 2002 — Governor Jeb Bush and President George W. Bush have indicated they are close to approving an agreement aimed at restoring and protecting Florida's Everglades.
Gov. Bush, via video message, on Thursday highlighted the progress and new developments regarding the Everglades at the annual Everglades Coalition meeting in Fort Lauderdale.
Specifically, Governor Bush, who was named a "Steward of the Everglades" last year, unveiled a plan to provide a dedicated source of funding for the state's share of the Everglades restoration project.
"We have launched the largest environmental restoration project the world has ever known." said Governor Bush. "Few things are more important to South Florida's environment and economy than restoring the Everglades. With the support of the Legislature and the Cabinet, I will insist we first exercise every option to ensure that reliable, secure, debt-free dollars are committed to Florida's highest environmental priority."
"Most Floridians agree that while General Revenue receipts are being reduced, our commitment to Everglades restoration must be kept," said David Struhs, Secretary of the Department of Environmental Protection. "This funding plan fully meets Florida's commitment to our federal partners by providing dedicated and debt-free funding for restoring America's Everglades."
Florida has committed to providing $100 million annually to fulfill its part in restoring the Everglades. To accomplish this mission, Governor Bush has developed a plan to provide a dedicated funding source through 2010.
Funding will come from three proven sources in addition to funding in the Florida Forever Act, which provides $25 million annually (see attached chart for FY 02/03 - FY 09/10 recommended allocations).
* The first dedicated source would capture excess revenues that are over and above the amount necessary to fund the state housing program. In the first year of the plan, this will yield $12.5 million for the Everglades. Currently, the state housing program is funded through a fixed percentage of documentary stamp revenues. Because those revenues continue to grow at a significant rate, the excess cash being generated can be directed to our highest environmental priority while still providing for our state housing program.
* The second secure commitment of $50 million in FY 2002-03 is made possible by utilizing surety bonds, which are essentially "insurance policies" providing the same full faith and credit guarantee of the State of Florida. Currently, substantial amounts of cash are held in reserve to guarantee existing conservation debt programs (P-2000 and Florida Forever). Through a proven strategy of fiscal management substantial cash can be annually dedicated to Everglades restoration.
* The third element of the funding plan dedicates $12.5 million in FY 2002-03 of growing documentary stamp revenue directly to the Everglades Trust Fund. Currently, after documentary stamp revenues meet all existing statutory commitments, the balance goes directly into General Revenues. This plan would create a statutory commitment to fully meet Florida's Everglades commitment by directing documentary stamps revenue directly into the Everglades Trust Fund through FY 2009-10.
* The Governor also indicated his support for bonding should a need arise.
"I fully support Governor Bush's efforts to balance Florida's many important needs. In recent years, our state and local housing finance agencies have received unprecedented, permanent increases in our largest financing sources," said Mark Kaplan, executive director of the Florida Housing Finance Corporation. "We are now better positioned to help our fellow Floridians obtain safe, decent housing that might otherwise be unavailable to them."
The Governor also discussed the recommendation he made before the Environmental Regulatory Commission that the phosphorous levels in the Everglades be brought down to 10 parts per billion. In addition, he mentioned an agreement that he will sign with President George W. Bush that promises Florida will reserve the water necessary for natural systems before federal money is released for construction projects. The Governor also praised the high level of communication between the Governor's Office and the Everglades Coalition, and thanked the Coalition for their continued leadership in the Everglades restoration project.
