 |  | 5919 MAIN STREET . NEW PORT RICHEY, FL 34652 . 727.853.1016 |
| TO: | City of New Port Richey City Council | | FROM: | Debbie L. Manns, City Manager | | DATE: | 11/15/2022 | | RE: | Request to Participate in the Florida Settlement with Walmart Pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) |
REQUEST:
The request is for City Council to approve a request to participate in the Florida Settlement with Walmart pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) and to authorize the City Manager to execute the Subdivision Settlement Participation Form and any other documents as necessary for this settlement.
DISCUSSION:
As Council is aware, in May of 2021, the City entered into a Memorandum of Understanding (MOU) regarding the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio). The MOU set forth a non-binding general framework of a unified plan for the proposed allocation and use of opioid settlement proceeds. Earlier this year, the State of Florida was allocated approximately $1.6 billion dollars from the historic Big Three Distributor and J&J settlements, approximately $1.3 billion with Teva, Allergan & CVS and an estimated $683 million from Walgreens. The City was recently notified that the Florida Attorney General has settled with Walmart for an estimated $215,000,000. As with all of the previous settlements, the funds will be distributed over an 18 year period. The estimated payment amount that the City will receive has not been released as of yet.
The executed settlement agreement is attached for Council's review and approval. The participation forms have not been forwarded to the City as of yet.
RECOMMENDATION:
Staff recommends that City Council approve the request to participate in the Florida Settlement with Walmart pertaining to the National Prescription Opiate Litigation, MDL No. 2804 (N.D. Ohio) and authorize the City Manager to execute the Subdivision Settlement Participation Form and any other documents as necessary for this settlement once the documents have been received from outside counsel.
BUDGET/FISCAL IMPACT:
No funding is required for this item. | | | |