FLRACEP Funding Source

Funding for the Centers of Excellence and the FLRACEP program comes from the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act), which established a Gulf Coast Restoration Trust Fund in the Treasury of the United States. The Centers of Excellence Research Grant Programs (CERGPs) are one of five elements established by the RESTORE Act, and each Gulf Coast State Entity will receive 2.5% of Trust Fund principal plus 25% of the interest accrued. The Department of the U.S. Treasury administers this federal grants program, whereby only the eligible state entity (FIO, in the case of Florida) may apply to access their allocation of the trust fund to establish Centers of Excellence in their state.