Allie_Caulfield's flickr photostream/Creative Commons

Last month, we updated you on the deal that would have Florida buying a whole bunch of the Everglades from a sugar company, and mentioned that Florida is hurting for money these days, which is placing the deal in jeopardy. Well, yesterday it was announced that the deal is being cut by more than half, as Florida couldn’t find all the money it needs. Originally (well, at least as of last month), the deal was for $1.34 billion for 180,000 acres of land. However. No one has money.

The reduction means the state will now buy 72,500 acres of land for $533 million, and hold a 10-year option to buy the remaining land. The decision means the original deal — hailed by environmentalists — will be far less ambitious than planned.  [Associated Press via MSNBC]

However, environmental groups are actually very happy, because Governor Charlie Crist didn’t just give up on the plan while facing such huge obstacles. Kirk Fordham, CEO of the Everglades Foundation, discusses that Crist could have easily ditched the whole project:

‘We’re frankly overjoyed that he hasn’t,’ Fordham said. ‘The circumstances that we’re facing dictate flexibility, creativity and perseverance … The governor and the management of U.S. Sugar have exhibited all of those traits to keep this extraordinary project moving forward.’

And the Audubon people are okay with the change, too, saying, basically, “Well, 180,000 acres was too much anyway.” So, though it’s unfortunate the project is being scaled back, it’s good that Florida is still doing what it can. takepart the Everglades Foundation.