Mathews, LA – Last Wednesday, the Lafourche Parish Council accepted an $8.1 million settlement from BP to cover economic losses suffered as a result of the 2010 Deepwater Horizon explosion and oil spill off of Louisiana's coast.
All taxing agencies in Lafourche Parish represented by the Leger & Shaw law firm shared in the $36.3 million Lafourche Parish economic settlement.
"This economic settlement represents an economist's best determination of how much the oil spill adversely affected the parish coffers," said Lafourche Parish President Charlotte Randolph. "This sum only represents the economic damages. BP is settling with local governments in Louisiana and the state for about $1 billion."
The formula for this settlement and others is based upon the size of the budget of the governmental agency. For instance, the City of Thibodaux will receive over $1.5 million, while the Town of Golden Meadow will receive $65,000.
"The Natural Resource Damage Assessment and the Clean Water Act fines are separate," Randolph said.
"Lafourche's coastal restoration projects will benefit greatly from a large share of the $6.8 billion Louisiana is expected to receive from the global $18.7 billion settlement to five states and the federal government."
Lafourche Parish has already received over $150 million in early restoration dollars as part of the Caminada Headlands Restoration Project.
The $1 billion economic settlement is not included in the larger settlement. These funds are not restricted to addressing oil-spill related damage and may be used by the parish in general fund-type projects that could have been completed had the parish not suffered the economic loss.
Bayou Lafourche Fresh Water District
Central Lafourche Ambulance Service District
City of Thibodaux
Lafourche Parish Ambulance District 1
Lafourche Parish Assessor's Office
Lafourche Parish Drainage District No. 1
Lafourche Parish Fire Protection District No. 2
Lafourche Parish Fire Protection District No. 9
Lafourche Parish Government
Lafourche Parish Juvenile Justice Commission
Lafourche Parish Recreation District # 1
Lafourche Parish Recreation District No. 8
Lafourche Parish School Board
Lafourche Parish Sheriff
Lafourche Parish Veterans' Memorial District, Ward 10
Lafourche Parish Water District No. 1
North Lafourche Conservation, Levee & Drainage District
South Lafourche Levee District
Town of Golden Meadow
Town of Lockport
Special Education District No. 1
Lafourche Parish Communications District
Bayou Lafourche CVB
TOTAL OF ALL LAFOURCHE ENTITIES
Posted on Tue, July 14, 2015
by The Lafourche Gazette