Gulf Oil Spill News
LA coastal restoration, hurricane levee spending plan proposed
- Monday, 23 January 2012 20:04
By Mark Schleifstein – NOLA.com – The Times-Picayune – January 19, 2012
Louisiana would spend $923 million on hurricane protection and coastal restoration projects during fiscal year 2013, including $161 million to pay part of the state’s share of the upgraded New Orleans area hurricane levee system, and $23 million toward the Morganza to the Gulf levee protecting Houma, according to a draft plan presented to the Coastal Protection and Restoration Authority on Wednesday.
The annual spending plan is highly dependent on two sources of money: $367 million already set aside by the Legislature for levee and restoration projects from 2008 and 2009 state budget surpluses, and a less-sure $267 million the state expects to receive from “early restoration” payments by BP for damage from the Deepwater Horizon oil spill under the federal Natural Resource Damage Assessment process. To read full story, click here.