The resolution urges the Coastal Protection and Restoration Authority to provide a report to the House Committee on Appropriations by June 12, 2024. This report should detail the potential financial liabilities to the state general fund if the Mid-Barataria Sediment Diversion project is not completed on time, as well as outline strategies to mitigate any negative impacts on the state’s finances. The Mid-Barataria Sediment Diversion project is a critical component of Louisiana's comprehensive coastal protection plan, which aims to address issues such as coastal restoration, storm damage reduction, and flood control.
The resolution highlights the significant financial stakes involved in the project, including a construction budget of $2.92 billion, with substantial funding from various sources. It also notes that the state has already incurred costs of $422 million for pre-construction and construction efforts. Additionally, there are concerns regarding a stop work order issued by Plaquemines Parish Government and potential damages of $250 million to $500 million owed to subcontractors if contracts are canceled. The resolution emphasizes the importance of timely completion of the project to avoid substantial liabilities that could impact the state’s fiscal health.