LEGISLATIVE ACTION ITEM
SPONSOR: City Council Member Sherri F. Myers
SUBJECT:
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RESOLUTION NO. 17-16 - IN SUPPORT OF ESCAMBIA COUNTY’S EFFORTS TO ENSURE TRIUMPH GULF COAST FUNDS COME TO THE EIGHT DISPROPORTIONATELY AFFECTED COUNTIES IN NORTHWEST FLORIDA
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RECOMMENDATION:
recommendation
That City Council adopt Resolution No. 17-16.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PENSACOLA, FLORIDA, IN SUPPORT OF ESCAMBIA COUNTY FLORIDA’S EFFORTS TO ENSURE TRIUMPH GULF COAST FUNDS COME TO THE EIGHT DISPROPORTIONATELY AFFECTED COUNTIES IN NORTHWEST FLORIDA
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HEARING REQUIRED: No Hearing Required
SUMMARY:
In 2010 British Petroleum (BP) experienced a massive oil spill in the Gulf of Mexico referred to as the Deepwater Horizon oil spill. As a result of that event, BP has agreed to pay over $20 Billion dollars in penalties.
The Florida Legislature has passed two pieces of legislation, Florida Statute 377.43 (Disbursement of funds received for damages caused by the Deepwater Horizon oil spill), which sets forth the disbursement of funds received to be disbursed to the eight disproportionately affected Counties, which include Bay County, Escambia County, Franklin County, Gulf County, Okaloosa County, Santa Rosa County, Walton County and Wakulla County and Florida Statute 288.8013 (Triumph Gulf Coast, Inc.; Recovery Fund; creation; investment), which created Triumph Gulf Coast, Inc. to receive, hold, invest and administer the Recovery fund and further, guiding that the principal of the fund shall derive from 75% of all funds recovered by the Attorney General for economic damage to the state resulting from Deepwater Horizon.
The Escambia County Board of County Commissioners is making efforts to ensure the 75% of the funds come to Northwest Florida, ensure that Northwest Floridians are making the decisions at the committee level or through Triumph Gulf Coast, and are asking that funds be allowed to be used for economic development, infrastructure and workforce development projects.
This resolution supports those efforts.
PRIOR ACTION:
None
FUNDING:
N/A
FINANCIAL IMPACT:
None
STAFF CONTACT:
Don Kraher, Council Executive
ATTACHMENTS:
1) Resolution No. 17-16 - Support of Escambia County’s efforts regarding Triumph Gulf Coast Funds
PRESENTATION: No