On June 16, 1947 the Florida State Legislature ratified the establishment of the Santa Rosa Island Authority after Escambia County’s Board of County Commissioners’ voted to establish a long-range program for commercial and residential development and institute a more permanent governmental body for the island. A portion of Santa Rosa Island was dedicated as National Monument status in 1939 by President Franklin Roosevelt. After the Island Authority was established, it was tasked to persuade the federal government to terminate the status in order to develop facilities and services on the island. Chapter 25810 of the 1949 Florida Legislature allowed the SRIA to create ninety-nine-year leases for residential construction. The leasehold agreements required a fixed annual payment and were exempt from ad valorem and property taxes.