County declines BP offer

Published: Thursday, April 18, 2013 at 09:19 AM.

That growth in the TDC continued in 2011 – revenue was up $100,000 – and 2012.

 “That made our argument tougher,” Martin said.

However, Martin said his firm had crafted an econometrics model that showed loss of potential revenue – in part the new international airport in Bay County should have driven more travelers and revenue to the county – and by comparing his model to BP’s, he was able to arrive at a claim for additional losses.

Martin said BP’s offer before the presentment of the TDC case was insufficient, but that an offer over the weekend for $246,000, bringing the total payout to the TDC at $365,000, was reasonable.

The number, Martin noted, represented roughly 50 percent of TDC revenues in 2010.

“We have an offer within the zone of reasonableness,” Martin said.

Commissioners seemed inclined to accept that component but would not accept any settlement after a closed-door session on the county’s claims.

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