The Resources and Ecosystems Sustainability, Tourism Opportunities and Revived Economy (RESTORE) Act establishes the framework for distribution of Clean Water Act penalties from the Deepwater Horizon accident and oil spill. Penalty monies are made available to affected jurisdictions as grants through three main "pots" of funds (i.e., federal/Pot 2, state/Pot 3, and local/Pot 1). More information about the RESTORE Act is available at: https://www.treasury.gov/services/restore-act/Pages/home.aspx.
RESTORE Act Direct Component (local/Pot 1) funds are held in trust by the United States Department of Treasury and are available to be spent for qualifying projects at the discretion of the local jurisdiction. The funds may be accessed through a multi-step process including, review and approval of a Multi-Year Implementation Plan (MYIP), and the submission and approval of project grant applications.
On March 23, 2016, the County Commission elected to move forward with a project at Ted Sperling Park at South Lido Beach to utilize Pot 1 funding. On October 4, 2018, Treasury approved Sarasota County's MYIP. County staff will now begin the process of preparing and submitting a grant application to access project funds.