Houston-area settlement announced from BP oil spill (HBJ)

By Laura Furr
Houston, METRO and Harris County are expected to receive nearly $23.5 million as part of an $18.7 billion settlement agreement with BP PLC (NYSE: BP) to resolve claims resulting from the 2010 Deepwater Horizon disaster.

The city of Houston is expected to receive $12.2 million for lost hotel tax and sales tax revenue. METRO will receive $9.2 million for lost sales tax revenue and Harris County will receive $2.1 million for lost hotel occupancy tax revenues, according to a statement from the city of Houston.

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