Latest News from CPRA
Restore or Retreat presented an update on their financing report to the CPRA board in Belle Chasse.
$1.2 billion in coastal projects in Southeast Louisiana spotlighted at CPRA's October board meeting
BELLE CHASSE, LA. - Oct. 18, 2017 - The Board of the Louisiana Coastal Protection and Restoration Authority (CPRA) held its monthly meeting in Belle Chasse in Plaquemines Parish and used the opportunity to spotlight billions of dollars in projects in the Southeast Louisiana region, and to report on innovative funding ideas being pursued to enable more Coastal Master Plan projects to get underway.
Here is a quick summary of topics discussed. For more information, please be sure to s
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Investment in Regional Parish Projects
- Nearly $1.2 billion in projects in SE LA has been completed, is in construction, or is near construction, not including sediment diversions.
- Ten projects are in engineering and design phases within CWPPRA, totaling approximately $291 million. CWPPRA remains an important and cost-efficient federal funding program for the state.
- Multiple projects are underway funded with $657 million of post-BP oil spill money from the Natural Resources Damage Assessment (NRDA) and the RESTORE Act, including Queen Bess, marsh creation, West Grand Terre, Maurepas freshwater diversion, and more.
GOMESA- Gulf of Mexico Energy Security Act
- Louisiana's been told it can anticipate receiving approximately half of the federal offshore oil and gas revenues promised under the Gulf of Mexico Energy Security Act (GOMESA) passed by Congress in 2006 and fully phased in this year.
- GOMESA is a critical funding source dedicated to the coastal trust fund, and this significant decrease will cause the state to re-evaluate priorities and may require adjustments to certain program and initiatives.
Mid-Barataria & Mid-Breton Sediment Diversions
- Over 300 people attended public scoping meetings of the Mid Barataria Diversion, and over 800 comments were submitted.
- A draft Environmental Impact Statement is anticipated to be completed in the fourth quarter of 2018.
- For the Mid-Breton Sediment Diversion on the east bank, progress has been made in identifying a potential location near Wills Point.
NRD Banking Up and Running
- This is a new banking program to incentivize private investment in Coastal Master Plan projects, and enables a private entity to sell restoration credits to responsible parties to mitigate for natural resource damages liability resulting from certain oil spills under the Oil Pollution Act that occur in Louisiana coastal waters.
- Restoration Banking Regulations are posted here and Compensation Schedule Regulations are posted here.
Pay for Success Update
- Environmental Impact Bonds (EIB) are an innovative financing tool that uses a Pay for Success approach in providing up-front capital for environmental programs.
- The Environmental Defense Fund has secured a grant through NatureVest, the impact investment arm of The Nature Conservancy is performing a feasibility study to design an EIB and determine whether Louisiana can use it as a financing tool to fund coastal restoration. (See below for EDF news release.)
- CPRA is currently exploring which projects and funding streams will be the best fit for this project-implementation approach.
More Coastal Financing Innovations Sought
- The Finance Working Group established by the CPRA Board is already making progress in advancing the state's efforts to identify and procure additional funds and funding sources for the Louisiana Coastal Master Plan.
- Restore or Retreat, a non-governmental organization, is partnering with CPRA to maximize and leverage future funding opportunities along with innovative cash management tools and techniques.
Submittals Received for Parish Matching Program
- Thirteen coastal-zone parishes have submitted 17 projects to be considered for up to $20 million in matching funds under the new CPRA Parish Matching Program.
- Project submittals came from Cameron, Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist, St. Mary, St. Tammany, Tangipahoa, Terrebonne and Vermilion Parishes.
- Project selection will be announced in November for CPRA board approval.
For copies of the presentations, please visit the
under Calendar-- or next time, you can even watch live