Lake Point Restoration

Lake Point Restoration is a multi-phased, $56 million public-private partnership intended to provide Everglades conservation and improved water quality that CTA CDE closed on December 21, 2010. An affiliated sponsor of the project facilitated the leverage loan through another lender. The total project includes a previously closed NMTC transaction with Bank of America as investor on $25 million of their NMTC allocation as well as $16 million by Florida Community Loan Fund. The project is on 2,230 acres in western Martin County, close to Lake Okeechobee and will create over 1,000 acres of lakes and 1,200 acres of parks and wetlands.

Currently, it is a limestone mining operation having a vast quantity of limestone material suited for road beds, levy building, decorative materials, and other associated limestone rock construction applications. The site and the associated water management system, a key area and facility for restoration of the Everglades worth in excess of $80 million will be eventually donated to the South Florida Water Management District following a "build out" of the mining operations. The project will create 470 jobs, with nearly two-thirds of those jobs being projected to go to low- and moderate-income individuals.

Lake Point Restoration Website