Escambia Commission To Discuss RESTORE Act Funds

July 10, 2012

The Escambia County Commission will discuss the federal RESTORE Act at meetings on Thursday. The RESTORE Act requires 80 percent of all fines paid by BP in future settlements for the Deepwater Horizon oil spill to go to Florida, Louisiana, Alabama, Mississippi and Texas. The fines are estimated to reach up to $21 billion.

“We understand that the money will be coming more quickly than expected,” said Commissioner Wilson Robertson. “I think it’s important for the Commission to start discussing the approach for deciding a methodology and criteria for determining the best use of these funds in our community.”

Although Louisiana will collect the largest share of the total fine, Florida will receive a significant portion of the funding under a distribution formula that will factor in the number of residents living along coastal areas. Although the final amount is uncertain, some estimates place Florida’s share at $100 million. Escambia, Santa Rosa, Bay Franklin, Gulf, Okaloosa, Wakulla and Walton counties will receive 75 percent of Florida’s share of money.

“Everyone seems to have a lot of ideas about how to spend the money,” said Commissioner Robertson. “However, it’s ultimately the Escambia County Commission’s responsibility to ensure this money is administered in a manner that best benefits our residents.”

The RESTORE Act funds will be discussed during the Commission’s Agenda Review meeting at 9 a.m. Thursday and during a special meeting at 5:30 p.m. Both meetings will take place in Commission Chambers at 221 Palafox Place in Pensacola.

Comments

One Response to “Escambia Commission To Discuss RESTORE Act Funds”

  1. PSU1Earl on July 10th, 2012 3:01 pm

    Commissioners, please note William’s story about the old bridges… this is a no brainer… Use the money to replace the bridges…. Then if you have any left use it to upgrade the storm water systems in the areas that flooded a few weeks back…

Written by William Reynolds · Filed Under News