| With much of the income from vacation rentals | | | | to compensation. It's a thorny issue." |
| rolling in in the Summer, it has been a rather | | | | Vacation property management companies with |
| disappointing few months for the many vacation | | | | Destin vacation rentals and all along the panhandle |
| property owners within the Florida region. Many | | | | of Florida, have also been subject to major losses |
| have found themselves taking substantial losses | | | | as cancellations have resulted in an absence of |
| and with the BP Deepwater disaster still spilling | | | | business over the Summer period. Yet Destin is |
| down the gulf, there looks like little respite in | | | | still open for business so to speak with its |
| regards of a lack in bookings. | | | | beaches remaining unclosed for tourists, while |
| Keith Feinberg, the man appointed by president | | | | many events such as fishing rodeos have had to |
| Obama as the pay czar of BP's $20 billion relief | | | | be canceled due to the Deepwater spill. There |
| fund having performed a similar task in 2001 | | | | have been measures implemented to preserve |
| regarding 9/11, has stated that owners of | | | | the beaches, though these attempts have been |
| vacation rental properties who have lost income | | | | marred by the Oil Pollution Act of 1990's litigation |
| due to the disaster, could receive compensation. | | | | that the Oil Company must lead the clean up, |
| Though he has acknowledged that determining | | | | leaving the state of Florida rather powerless, and |
| whether to pay those who have not suffered | | | | waiting for BP's favoured retroactive clean up of |
| direct damage will be a tough matter to reside | | | | the mess. |
| over. | | | | An estimated 2 million gallons of oil are flowing in |
| Around 3 million vacation rental properties, | | | | to the gulf of Mexico everyday since the leak |
| throughout the four states affected by the spill, | | | | explosion of late April, and has become recognised |
| fall between the guidelines set out by Feinberg. | | | | as the worst environmental disaster in US history. |
| Rental property in Louisiana, Alabama, Mississippi, | | | | Receiving payment from BP's relief fund does not |
| and Florida's panhandle may be able to receive hel | | | | mean property owners and those affected by |
| paying for their mortgages or any other bills they | | | | the disaster forfeit the rite to to file a lawsuit |
| struggle to meet due to the ongoing Oil Disaster. | | | | with BP, for other damages incurred. |
| "That claim should be filed," said Feinberg, referring | | | | Now of all the five states bordering the gulf of |
| to vacation rental owners. "It should be | | | | Mexico have been affected by the spill, with |
| corroborated. I don't know what corroboration. | | | | tarballs appearing in Texas Earlier in July. As the |
| We'll see, but absolutely those claims will be | | | | situation is still playing out it is hard to predict the |
| considered." | | | | areas in which BP's $20bn relief fund will be |
| Homeowners in the area have also been affected, | | | | allocated, yet Feinberg seems to be quite open in |
| as property values are set to be affected by the | | | | regards to claims. Feinberg is said to be trying to |
| spill, and it is estimated values of houses along | | | | improve the claims process, and is expected to |
| Louisiana coastlines will reduce by 30 per cent. Yet | | | | speed up the payments, releasing emergency |
| this matter remains obstinately gray territory. | | | | lump sums to businesses. Payments from BP's $ |
| "Property value has diminished as a result of the | | | | 20 billion relief fund will not have predetermined |
| spill," says Feinberg, "Let's assume that's right. | | | | limit. |
| That doesn't mean that every property is entitled | | | | |