Okaloosa County BOCC — October 6, 2015 — Letter of Support for RESTORE bonding — agenda request

BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: October 6, 2015 TO: Honorable Chairman and Members of the Board FROM: Rick Owen SUBJECT: Letter of Support for RESTORE bonding DEPARTMENT: County Administrator BCC DISTRICT: All STATEMENT OF ISSUE: In order to help maximize utilization of future RESTORE Act fund disbursements, a letter of support to the Florida delegation for bonding options of multi-year distributions is requested. BACKGROUND: On July 2, 2015, the conceptual settlement for the BP Deepwater Horizon litigation was announced outlining a path to its conclusion and distribution of funds. A major part of this settlement will finalize claims related to the Clean Water Act and distribute funds pursuant to the RESTORE Act of 2012. As part of the announcement, a process was also outlined whereby public comment on the settlement would be sought. As a core matter in the settlement, staff recommends that all parties should seek an effective method of fund distribution to expedite recovery of the environment and economy of the Gulf of Mexico. The availability of bonding or a similar mechanism to allow counties and states the option to accelerate access to their share of funds as defined in the settlement agreement would provide flexibility to distribute funds quickly and efficiently to those who will lead recovery efforts. OPTIONS: Approve/Disapprove letter of support to Florida delegation. RECOMMENDATIONS: Staff recommends approval of attached letter to the Florida delegation and authorization for Chairman to sign on behalf of the Board. RECOMMENDED BY: APPROVED BY: John Hofstad, County Administrator