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The Koontz v. St. John’s River Water Management District case arose from a Florida agency’s demand for wetland-development mitigation. It quickly became the U.S. Supreme Court’s most important takings decision in years. Examine Koontz’s impact on earlier case law and local administrative practices. What are the new rules for wetland-impact mitigation? And what questions has Koontz left unanswered? *Pending approval for 1.25 CLE from the MCLE of Illinois.