Condo Owner

Volume19 Issue3 2015

Condo Owner publishes information vital to the business and pleasure of resort condominium ownership. Topics covered relate to real estate market trends, community association matters, rental management issues, tax and insurance updates and more.

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condo owner V O L U M E 1 9 • I S S U E 3 www.condo-owner.com 12 regional Gulf States Reach $18.7 Billion Settlement With BP Over Oil Spill NEW ORLEANS—BP and five Gulf states announced a record $18.7 billion settlement in July that resolves years of legal fighting over the environmental and economic damage done by the energy giant's oil spill in 2010. The settlement, if accepted by a federal judge, would end a five year battle between BP and the U.S. government over Clean Water Act penalties after a judge ruled the company was grossly negligent in the nearly 134-million-gallon spill. It would resolve the states' natural resources damage claims and settle economic claims in- volving state and local governments in Florida, Alabama, Mississippi, Louisiana and Texas, according to an outline filed in federal court. "If approved by the court, this settlement would be the largest settlement with a single en- tity in American history; it would help repair the damage done to the Gulf economy, fisheries, wetlands and wildlife; and it would bring lasting benefits to the gulf region for generations to come," U.S. Attorney General Loretta Lynch said in a statement. Louisiana received the largest share of the settlement money—about $6.8 billion—and Caldwell said the payments will be received over the next 16 years. Louisiana Attorney General Buddy Caldwell cautions that the settlement is a deal in principle only, with the finer details remaining to be worked out in a final consent decree to be complete in about two months. Environmental groups remained concerned, however, that the settlement didn't go far enough. Raleigh Hoke, campaign director for the Gulf Restoration Network, said the organiza- tion worried how much money would actually go to coastal restoration. "If the court approves this proposal, BP will be getting off easy and 'we the people' will not be fully compensated for the natural resource damages that we suffered," said Jacqueline Savitz, U.S. vice president for Oceana, a group dedicated to protecting the world's oceans. "The law requires that the public is made whole for those damages." destin/ okaloosa island Henderson Beach Resort Scheduled To Open Next Summer As work continues on Memphis-based Dunavant Enterprises Inc.'s $300-plus million Henderson Beach Resort, the resort's anchor hotel is on pace to open next summer. The Henderson, a 170-room luxury hotel, is already booking meetings and events scheduled for the 2016 vacation season. The Henderson is being managed by Salamander Hotels & Resorts and will be adja- cent to the 208-acre, environmentally protected Henderson Beach nature preserve. An economic impact study projects The Henderson will create more than 1,557 jobs, including 677 construction jobs and 261 staff positions. Tailfins Seafood, Alehouse and Oyster Bar Opens In Destin A bright red arrow-shaped sign points the way to Destin's newest restaurant, Tailfin's Seafood, Alehouse and Oyster Bar located at 172 Harbor Blvd. "There is no table that doesn't have a view of the water," said Owner Johnny "O'Quigley" Fuller. "All three levels can be open-air dining, and all have theater-like seating over the water." Fuller, who also owns Johnny O'Quigley's Irish pub and Sports Grill in Crestview, explained that when designing the Destin restaurant, his idea was to include ‰ news & happenings along the Gulf Coast LuLu's Second Location Now Open In June, Lucy Buffett opened LuLu's Destin next to Legendary Marine at the foot of the Middle Bay Bridge along the Choctawhatchee Bay. LuLu's has been operating since 1999—first on Weeks Bay in Fairhope, Ala., and since 2004 in Gulf Shores, Ala., where the family-friendly restaurant serves over 750,000 guests a year. With its fun coastal charm and spirited atmosphere, Destin's new 20,000 square foot complex features 180 feet of bay front views and seats 350 in the main dining area with additional patio seating. The venue also features the Crazy Sista Bay Bar, with a spectacular view of the sunset. LuLu's Destin has ample parking and provides a convenient "Gumbo Train" to assist guests to and from the parking lots. Maintaining the Gulf Shores model, LuLu's Destin will offer tons of fun activities for the kids including a sandy beach, Fountain of Youth, face painting, hair wraps, pails, shovels and toys galore making it the ideal playtime venue. For more information, visit www.lulubuffett.com. n DESTIN headlines

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