Louisiana and other states will each be given $100 million. NOAA and the Interior Department also will be given an initial $100 million. The remaining $300 million will be divided between NOAA and Interior to be used for projects selected by them from proposals submitted by the states.So to start with, Louisiana, the state in possession of the most vulnerable coastline and facing the most dire and complex coastal crisis gets $100 million on its own. Considering the enormity of the challenge to the Louisiana coast, that really isn't going to go very far.
The first $500 million will be forwarded within 45 days, with a second $500 million provided in six months.
The projects must meet other requirements outlined in the agreement with BP and be approved by a Trustee Council that includes representatives of all trustees.
After that, we have the opportunity to compete with the other states in coming up with proposals for little shares of the remaining $300 million. Given the dedication and initiative typically displayed by the Governor's office, let's not hold our collective breath waiting for a robust menu of funding proposals to come streaming forth.
Meanwhile, as we've seen previously, the competition tends to get awfully creative in these situations. But maybe I'm being too pessimistic. For all I know we could get a whole new Borders out of this deal.
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