NFLT partnered with Greenfield Environmental Multistate Trust to help identify the Fort George property for trade with the State of Florida in order to access and clean up a State-owned, 2.8-acre submerged land. In return for the submerged land, the State agreed to accept the Fort George property as conservation land that will be preserved for the future as a part of the state park.
NFLT was trying to identify funding for the acquisition when the Multistate Trust contacted NFLT about the availability of mitigation land that the State could accept in exchange for the State-owned, contaminated, submerged land in the St.
A rental survey is then conducted of public jurisdictions that lease submerged land to private entities and a submerged fee rate is reconciled.
Another popular technique is applying a percentage (often determined by a public jurisdiction) to the potential gross income (PGI) or the effective gross income (EGI) of the improved submerged land site.
As such, the fee interest and rental of the fee interest in submerged land rarely, if ever, transfer or lease under market conditions.
The type of submerged land referred to in this article is tidal land that is underwater and adjacent to dry land (sometimes called water lots).
This statement indicates that the court assumed that the city's lack of fee simple title to the submerged lands would have no significant bearing on whether it would later be permitted to dredge the area surrounding the piers.
The state no longer freely grants leases of sovereign submerged lands or permission to dredge these lands.
"Provided, that the grant herein made shall apply to and affect only those submerged lands which have been, or may be hereafter, actually bulk-headed or filled in or permanently improved continuously from high water mark in the direction of the channel, or as near in the direction of the channel as practicable to equitably distribute the submerged lands, and shall in no wise affect such submerged lands until actually filled in or permanently improved."
The methodology for submerged lands may be summarized as follows.
These submerged lands are held in trust for the use and benefit of the people of the particular state, as set forth in Tide 43, U.s.
This statute defines the Outer Continental Shelf (OCS) as all submerged lands lying seaward of state coastal waters (three miles offshore) that are under United States jurisdiction.