RESTORE Act "Bucket 1" Update
Posted on Jul 31st, 2018
Update June 2018
With the acceptance by Treasury of the Texas MIP, Texas Commissioner Baker has directed staff to begin federal applications for 23 of the 26 projects listed in the accepted Multiyear Implementation Plan or MIP. The first eligible activity listed is the Lower San Bernard River Eco System. Those applications for grant awards are expected to be submitted to Treasury for their approval beginning in mid to late summer.
Due to on-going payments into the federal RESTORE Trust Fund, approximately $97 million is currently available to Texas for MIP-accepted projects. Projects moving forward to the application phase were selected by Commissioner Baker using his discretionary authority and in consultation with the Office of the Governor. Factors that were considered included whether the projects (1) strengthen coastal resiliency, (2) stimulate local coastal economies, (3) increase tourism, and (4) establish a foundation for future economic and ecosystem restoration through careful planning and study.
Consideration was also given to projects that had a strong economic component in addition to ecological restoration. Finally, these projects were also selected to provide funding for as many RESTORE eligible counties as possible, as well as to ensure a cross-section of projects that addressed as many of the RESTORE eligible activities as possible.