Are the BP Deepwater Horizon Oil Spill settlement funds having any positive effect? Clients frequently ask me how the Gulf Coast region has improved since the spill settlement dollars were released. Remember, in 2015, BP agreed to settle all claims with the U.S. federal and state governments in a $21 billion dollar settlement. Pursuant to that settlement, the company will pay out that amount over roughly twenty years. Recent payments have been substantial, with BP paying out $1.7 billion for the fourth quarter in 2017 and an anticipated payment of another $3 billion in 2018. The company’s spill-related payouts will rise to $3 billion in 2018 from an earlier estimate of $2 billion, while those for 2017 will remain at $5.5 billion.
An interesting April 10, 2018 article in Florida’s Citrus County Chronicle makes it clear that while many people and communities still struggle as a result of the spill, settlement funds have resulted in some positive outcomes. If you think you are entitled to some of the BP Deepwater Horizon settlement, having experienced counsel help you attain your fair share is critical. Barrett Law has the experience to help you through this process. Contact us now at (601) 790-1505.
County Commissioners Sign Off on BP Oil Spill Money
By Michael Bates
County commissioners on Tuesday unanimously signed off on the RESTORE Act multi-year implementation plan and the paperwork will be sent to the appropriate state and federal agencies for approval.
The U.S. Department of Treasury had earlier approved the county’s multi-year plan to spend $4.3 million from the BP Deepwater Horizon oil spill settlement. The Treasury has already signed off on the county’s plan, but it had to go to a 45-day public-comment period before the board finalized it.
The RESTORE Act, which governs the oil spill settlement, sends funds to affected counties in two separate pots. The multi-year pot divides the payout over 15 years.
The county commission in June approved the plan, which set two projects side-by-side as top priority for now: The Riverwalk in Crystal River and purchase of property for a riverfront park in Old Homosassa.
The state has pledged $850,000 for the Homosassa park. For the county to receive RESTORE funds for that project, it would need to buy the property and own it. County officials say they do not want to own the property because it contains a fish house and other commercial businesses, and owning it would require the county to bid out the business.
The board last month voted unanimously to send a letter seeking an “ironclad” promise from the state that if the county turns over property to a private group after acquiring ownership it will not jeopardize the $850,000 grant the state has promised.
I linked to the entire article below and encourage you to read it. In a nutshell, it looks like funds related to the Gulf Oil Spill are having a positive effect on some areas in our region.
What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?
If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you may be due compensation for your losses. Hiring a general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting BP Deepwater Horizon Oil Spill claims paid will represent your interests adequately.
Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were harmed as a result of the Spill.
Barrett Law has the experience to take on defense attorneys that are focused on denying your compensation for the harm you experienced. Contact us now at (601) 790-1505.
Source: http://www.chronicleonline.com/news/local/county-commissioners-sign-off-on-bp-oil-spill-money/article_b28b750e-3cf4-11e8-a263-a3f9057939c7.html
