Published: Oct 12, 2010 8:30 PM EDT
Updated: Oct 12, 2010 5:30 PM EDT

WEST PALM BEACH, Fla. (AP) - A $197 million deal to turn over nearly 27,000 acres of U.S. Sugar Corp. land to the state in an effort to restore the Everglades is finally done.

The South Florida Water Management District transferred all but $3 million of the money to U.S. Sugar on Tuesday. The balance is the company's contribution to environmental cleanup costs.

Environmentalists cheered the money transfer, which ended two years of court battles and scaling back of the initial deal.

The amount of land being transferred is just one-ninth the size originally planned. The state has the option to purchase the rest.