Bay County will file a full and final claim for damages from the 2010 Deepwater Horizon oil spill. County commissioners decided to proceed with the claim during an executive session near the end of Tuesday's board meeting.
The total claim includes $2.788 million in damages and a "risk transfer payment" of $5.576 million. Under the terms of the proposed agreement, BP will still be responsible for future environmental cleanup but have no liability for future economic impacts. The risk transfer payment – the "premium" BP will pay to obtain a final release from the county – is intended to cover potential damages not considered environmental in nature.
In determining the claim amount, the county considered the oil spill's impact on solid waste tipping fees, specialty waste fees, electricity sales, water utility fees, communications services taxes, vessel registration fees and pier fees.
Excluded from the damage calculation are ad valorem claims, gas taxes, civil citations and building inspection fees.