CRESTVIEW — Businesses, individuals and government entities with ideas for spending the first “pot” of RESTORE Act funds might be able to start applying for them in March.
But the process won’t be easy, according to Okaloosa RESTORE Act Committee consultant Sal Nadjomian.
While the county is likely to receive $6.4 million from last week’s Transocean settlement from the May 2010 oil spill, the committee “has designed a system that is going to force only the best proposals to come through,” Nadjomian said during Monday's Crestview City Council meeting.
The Transocean money is separate from funds already made available to businesses that suffered losses directly as a result of the oil spill.
“At the end of the day, this money is designed to make our community better,” Nadjomian said.
MORE TO COME
The bulk of future settlement money will come from British Petroleum, which was tried under maritime law, where a single judge, not a jury, decides the outcome, Nadjomian said.
Settlement funds could range between $22.4 million and $87.6 million, depending on whether the judge finds BP “grossly negligent” in the spill or that the company did “due diligence” during the event.
“From the judge’s comments, he seems to lean toward grossly negligent,” Nadjomian said. “In that case, BP is expected to appeal,” extending the settlement several more months.
City Councilman Tom Gordon, Crestview’s committee representative, said while the city has no specific projects to seek funding for from the first pot, city officials have an idea of where the money should go.
“When I talked to (Public Works Director) Wayne Steele, anything having to do with storm water is expected to do extremely well in the application process,” Gordon said.
Nadjomian said project applications will be weighed on “qualitative” and “quantitative” scores, including economic, benefit to the general public, and environmental factors.
“Pot 1 has the widest range of allowable activities,” Nadjomian said.
WANT TO GO?
WHAT:RESTORE Application Workshop
WHEN:2:30 p.m. March 4
WHERE:Emerald Coast Convention Center, 1250 Miracle Strip Parkway Southeast, Fort Walton Beach
COST:No charge
NOTES:Informational session presented by ORAC on how to apply for the first pot of RESTORE Act money coming to Okaloosa County.
Email News Bulletin Staff Writer Brian Hughes, follow him on Twitter or call 850-682-6524.
This article originally appeared on Crestview News Bulletin: $6.4 mil. RESTORE Act funds could be available soon