The City of Tampa will use some money from the settlement with BP over the 2010 Gulf of Mexico oil disaster to help fund redevelopment on the west side of the Hillsborough River.
The city’s chief financial officer, Sonya Little, told City Council yesterday that some of the funds will pay for some of the reconstruction at Julian B. Lane Riverfront Park across the river from downtown.
“Currently the administration has considered using a portion of the BP settlement for purposes of funding a portion of the Julian B. Lane park project cost. And the discussions have been – since this is a major project for the District 5 area, the largest in the history of that district – in addition it will play a very vital role in the redevelopment of the West River area.”
Little says the amount is not known because the features of the park are still being discussed.
The money is now in a special reserve fund.