- The funds from the BP settlement support economic growth and development in the state’s six coastal counties.
The Mississippi Development Authority announced Monday that the agency will begin accepting applications for the next round of Gulf Coast Restoration Fund grants on June 1.
Applications will be accepted through July 31.
Started in September 2018, the Mississippi Gulf Coast Restoration Fund has provided funding to businesses and organizations looking to bring increased economic activity to the Gulf Coast region. Eligible applicants include, but are not limited to, local governments, nongovernmental organizations, higher education institutions, community colleges, ports, airports, public-private partnerships, private for-profit entities, private nonprofit entities and local economic development entities.
Mississippi reached a $750 million settlement with BP in 2016 following the Deepwater Horizon oil spill in April 2010. The state received an initial payment of $150 million and continues to receive $40 million annually from 2019 through 2033, with $30 million allocated to the GCRF each year.
The funds support economic growth and development in the state’s six coastal counties: George, Hancock, Harrison, Jackson, Pearl River and Stone.
The application portal is available here, and MDA will host application workshops on the Gulf Coast from July 6-8. Additional details regarding the workshops will be provided in the coming weeks.
This year, Governor Tate Reeves (R) partially vetoed SB 3071, a measure to expended funds from the Gulf Coast Restoration Fund. The Gulf Coast Restoration Fund Advisory Board had recommended that the Mississippi Legislature fund $69 million for 15 projects this session along with placing $7 million in a Regional Research & Development Revolving Loan Fund. Reeves also vetoed the revolving loan fund.
The Advisory Board narrowed down and reviewed 89 submitted projects which totaled more than $383 million prior to recommending the top 15. However, when the dust settled, only 9 of the Advisory Board’s recommendations made the final cut with lawmakers.
Governor Reeves took exception with two projects and line item vetoed $1.65 million in appropriations on this measure. One was for $1.5 million for the Ocean Springs with Public Works Redevelopment and Relocation Phase I and II, and the other was $150,000 for the Lucedale-George County Historical Society with the Lucedale-George County History Museum.
Frank Corder
