St. Bernard Parish officials have agreed to a $9.3 million settlement with BP over the parish’s claims for lost revenue tied to the 2010 Deepwater Horizon disaster.
If the overall deal is approved, St. Bernard is expected to receive the money in a lump-sum payment.
The St. Bernard Parish Council passed a resolution approving the settlement after a closed-door executive session Tuesday.
St. Bernard’s lawsuit against the British oil giant was among more than 500 claims for damages filed by local governments, sheriffs, school boards and taxing districts across the Gulf Coast, seeking compensation for lost resources and tax revenue.
BP is expected to pay up to $1 billion to resolve those claims, the details of which are expected to be finalized and announced by individual agencies in coming days.
Overall, BP’s tentative $18.7 billion deal, which is awaiting a federal judge’s approval, resolves its claims with the federal government and five Gulf Coast states, including Louisiana. It largely ends the five-year courtroom battle that has played out in the aftermath of the April 20, 2010, disaster, which killed 11 men and spilled millions of barrels of crude into the Gulf of Mexico.
St. Bernard Parish President David Peralta has said he would like to set some of the money aside and hold off on spending it right away.
Follow Richard Thompson on Twitter, @rthompsonMSY.