Florida's open-space land-acquisition program is one of most aggressive in
the country, with $3.7 billion paid for 3.8 million acres since 1972. Using
data from the Conservation and Recreational Lands (CARL) program, hedonic
analyses found that acquiring private lands with valuable natural resources,
habitat for rare species, and important historical sites for public
preservation is more costly. Development potential and pressure also
increased acquisition costs. The presence of additional endangered natural
elements and needing to contract with additional landowners, however, were
found to decrease the cost. Results provide a basis for landowners and
land-acquisition agencies to negotiate.