Lafayette gets over $279K payout in BP oil spill settlement

The Lafayette Consolidated Government anticipates receiving $279,769.25 from the BP Oil Spill settlement. The Lafayette City-Parish Council approved an ordinance on Tuesday for 15% of the payout to go towards attorney fees and expenses. LCG Chief Administrative Officer Dee Stanley says the council found the settlement fair considering Lafayette Parish is not a coastal parish. “If you look at how our community was impacted from an economic standpoint it just doesn’t compare to those more directly impacted,” notes Stanley.

Chief Financial Officer Lorrie Toups says a decision hasn’t been made yet regarding how the money will be spent. Toups says the council will decide. “It’s one time money. I would prefer for it to be used for a one time purpose and not for something that is repetitive.”

Stanley confirms that the spending of BP settlement will be a  mayoral and council decision. “Certainly we would like the idea since its one-time money that it would be spent on something that would be one-time and perhaps have a lasting impact, but the mayor and council will make that decision,” explains Stanley.

According to the Louisiana Oil and Gas Association’s website, BP has been ordered to pay about $18.7 billion to the federal government, Louisiana and four other gulf states.

Here’s a press release link to BP July 2, 2015 Settlement press release.  This was sent by the president of the Louisiana Oil and Gas Association: http://www.bp.com/en/global/corporate/press/press-releases/bp-to-settle-federal-state-local-deepwater-horizon-claims.html

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