Title
Accept Additional Opioid Litigation Settlement Funding
Action
Action:
A. Adopt a resolution approving a Supplemental Agreement for Additional Funds from Additional Settlements of Opioid Litigation settlement funds with the State of North Carolina regarding proceeds relating to wave two of settlements of the opioid litigation and any subsequent settlement funds that may be allocated to the city as a result of the opioid crisis, and
B. Authorize the City Manager, or his designee, to negotiate and execute all documents necessary to complete the second wave of opioid litigation settlements.
Body
Staff Resource(s):
Ryan Bergman, Strategy and Budget Director
Lina James, City Attorney's Office
Explanation
* In 2021, representatives of NC local governments, the NC County Commissioners, and the NC Department of Justice negotiated a Memorandum of Agreement (MOA) to provide for the equitable distribution of proceeds resulting from national settlements of the Opioid litigation to the State of North Carolina and to individual local governments.
* City Council adopted a resolution approving this MOA on September 27, 2021, and received a briefing on recommended allowable uses for the funding on December 12, 2022.
* Additional national opioid litigation settlements have been reached with pharmacies including CVS, Walgreens, Walmart, Allergan, and Teva; to receive proceeds from these additional settlement funds, the city must execute separate MOAs or supplemental agreements with the State prior to accepting additional proceeds.
* These additional settlement agreements are projected to award $606.9 million in proceeds to the state and local governments in North Carolina to respond to the opioid public health crisis.
* The city was allocated $8,035,361 from the original settlement agreements and is projected to receive an additional $6,432,128 from the new additional litigation settlements, for a total of $14,467,489.
* These funds are scheduled to be paid in annual...
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