County to net $11.4 million in BP settlement

Sarasota County came a step closer to compensation for the economic impact of the Deepwater Horizon oil spill Tuesday, as commissioners accepted $14.2 million as part of a settlement with BP.

County staff, who expect to net about $11.4 million after legal fees, have recommended earmarking the influx of cash as reserves within the general fund, said county spokesman Drew Winchester. 

The settlement money will become available within the next 60 to 90 days without restrictions for its use, and commissioners have not discussed in an official capacity how the county will spend the funds.

"Sarasota County cannot comment further on the settlement at this time due to federal judicial confidentiality agreements," Winchester said.