Triumph Gulf Coast gives final approval to major grant award for SW Crestview bypass project
APALACHICOLA — The Triumph Gulf Coast board gave its final approval Wednesday to a $64.1 million grant award agreement with Okaloosa County for the southwest Crestview bypass project.
The money comes from settlement funds from the 2010 BP oil spill and will cover more than a quarter of the project’s total estimated planning and construction cost of almost $200 million.
The board’s approval came one day after the County Commission gave its final approval to the grant award agreement.
County officials anticipate receiving almost $96 million for the bypass from the Florida Department of Transportation.
The remaining project cost of almost $39 million will be funded by local sources, including $27 million worth of half-cent sales tax revenue from the county and $8 million in half-cent sales tax revenue from the city of Crestview.
Triumph requires the county to have the construction portion of the bulk of the bypass project under contract by the end of 2020.