Slowly but surely, things are starting to move with the RESTORE Act process and the flow of money.
This time last year, all interested parties were commenting on a proposed set of regulations from theU.S. Department of the Treasury that will govern how the Gulf States and municipalities spend money resulting from the Deepwater Horizon oil spill. After considering those comments, the Department of the Treasury issued an Interim Final Rule earlier this month.
The RESTORE law steers 80% of any civil and administrative penalties under the Clean Water Act into the Gulf Coast Restoration Trust Fund. The law designates the estimated $5 to $20 billion dollars to ecosystem restoration, economic recovery, and regional tourism promotion. Most of that money will come from BP once federal court proceedings conclude. Approximately $1 billion has already been collected from a settlement with Transocean, the company that operated the doomed oil rig.
Some RESTORE funds will be available for dispersal once the Treasury rule is final. Barring any challenges to this rule, this is expected to happen on October 14, 2014.
While we wait for the Treasury regulations to be final, you can feel the activities of the Counties stepping it up as well. The Gulf Consortium, consisting of Florida’s 23 Gulf counties, is anticipating receiving some grant funding to assist with the development of Florida’s State Expenditure Plan. This group will select a consultant to help guide them through the process.
Most of those 23 counties also have their own RESTORE Act Advisory Committees. These committees oversee a separate revenue stream of trust fund dollars received based on the extent of damage done in the county. Each committee has one environmental representative dedicated to ensuring that their County spends funds to address environmental and ecological damages.
On August 21, 2014, those representatives from the Panhandle area (Escambia, Santa Rosa, Okaloosa, Walton, Bay and Franklin counties) gathered for a day at the E.O. Wilson Biophilia Center near Freeport, Florida to share updates and look for ideas on how to advance shared priorities. The meeting was organized by the Defenders of Wildlife and also included representatives from Audubon Florida, the Nature Conservancy, National Wildlife Federation and the Florida Wildlife Federation.
The Panhandle Counties are all working on their individual expenditure plans and processes and are all in different stages of readiness to accept project proposals. All committee meetings are open to the public.
One resounding cry heard at the August 21 meeting was the need for more public involvement. Consider attending one of the below public meetings. All times local. For additional information, please click here.