Consolidated-Tomoka Land announced settlement of the administrative litigation with St. Johns River Water Management District, which dates from 2010. Pursuant to the settlement, the company deeded approximately 665 acres of undeveloped land to the District. These acres are a portion of undeveloped land that the company originally acquired in 2003 for the purpose of wetland mitigation. The company previously recorded the cost of this settlement in 2012 and does not expect the settlement to further impact earnings, it said.
- Company Legal & Law Matters