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Tampa Bay Water to receive roughly $23–$24 million gross from PFAS litigation; board to track proceeds in separate fund
Summary
Tampa Bay Water announced a gross settlement award of about $23–$24 million from nationwide PFAS litigation, with net proceeds estimated at $17–$18 million. The board was told initial payments are arriving this year and staff will place receipts and interest into a dedicated fund while the board decides how to spend the money.
Tampa Bay Water officials told the board Monday that the agency has reached a gross settlement in the nationwide litigation over PFAS manufacturing and will receive roughly $23 million to $24 million, with net proceeds estimated at $17 million to $18 million. Augie Ribeiro, outside counsel with Ventura Law, said about 90 percent of the award comes from 3M and the remainder from DuPont and other defendants. The board was briefed on the distribution schedule and financial controls. “We’ve made a payment, one payment was made, last month. And I have another check here today to drop off,” Christina, a Tampa Bay Water staff member handling the financial update, told the board. Christina said the agency expects to…
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