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FDIC buys sensitive tract in Florida Keys
[CITY Edition]
St. Petersburg Times - St. Petersburg, Fla.
Author: BALLINGRUD, DAVID
Date: Dec 16, 1987
Start Page: 2.B
Section: METRO AND STATE
Abstract (Document Summary)

Environmentalists in the Florida Keys breathed a sigh of relief Tuesday when a large and sensitive piece of the Florida Keys did not fall - as they had feared - into the hands of a developer.

More than 400 acres along the North Key Largo beachfront - site of a failed development called Port Bougainville - was sold in an auction to the Federal Deposit Insurance Corp. (FDIC) on the steps of the Monroe County Courthouse.

The state has ranked the North Key Largo site as its No. 1 priority in a program to acquire environmentally sensitive lands, and state officials expect it will now be easier to make a deal with the FDIC than it would have been with a developer.

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