BP settlements are washing up in Panhandle cities. The BP oil spill in 2010 caused the area great economic loss and now the company is literally paying back the surrounding areas for all damages.
Tonight the City of Callaway council members announced the settlement their city was offered. The meeting was full of community members ready to hear what dollar amount BP and Callaway came to agree on.
While commission meetings can sometimes be boring, tonight's meeting was anything but according to City Manager Marcus Collins, "We actually got some money $575,000 and we just signed off on it tonight." The city of Callaway approved BP's and the city will net just under that amount the total according to City Attorney, Kevin Obos , "About $447,000 will come to the city after the cost of attorney fees are taken out of the $575." How will the settlement impact Callaway, Collins believes it will be great, "Oh, it will help us tremendously! Now that the council has approved it we will put it towards paying off some debt and that enables us in the future to have more money come back into our budget therefore we can spread the money out and fix more things within the city." In accepting the settlement the city is releasing BP of any liability for any economic losses.
Funds are expected to be wired into the cities funds within the next week. The money will be used to bring down the cities debt but according to Pro-Tem Mayor Otano, it will not eliminate the cities bills.
Callaway worked with BP out of court and because of this...the city was able to save a tremendous amount of money in litigation fees.