With new additions to the board and funds actually in the bank, the board of Triumph Gulf Coast will meet this morning in Pensacola.

With new additions to the board and funds actually in the bank, the board of Triumph Gulf Coast will meet this morning in Pensacola.

Among the new members of the board are Jason Shoaf of Gulf County.

The board meeting is the first since the Florida Legislature approved expanding board membership and released the initial $300 million payment in fine dollars from the 2010 Deepwater Horizon oil spill.

The agenda includes election of officers as well as selection of subcommittees.

The board is also slated to discuss the process for application and disbursement of awards and recommendations for the next steps.

The Triumph Gulf Coast board is charged with disbursing some $1.5 billion over the next 15 years for economic development and job-creation efforts in eight Northwest Florida counties.

Gulf County will receive $15 million from the initial $300 million and over the 15 years will receive over $60 million.