AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING PARTICIPATION IN THE COMBINED SETTLEMENT AGREEMENT WITH THE SIX (6) REMNANT DEFENDANTS, INCLUDING ASSOCIATED PHARMACIES, INC. (AND AMERICAN ASSOCIATED PHARMACIES); J M SMITH CORPORATION; LOUISIANA WHOLESALE DRUG COMPANY, INC.; MORRIS AND DICKSON CO.; NORTH CAROLINA MUTUAL WHOLESALE DRUG COMPANY, INC.; AND UNITED NATURAL FOODS, INC. (INCLUDING ITS SUBSIDIARIES SUPERVALU AND ADVANTAGE LOGISTICS) RELATED TO THE NATIONAL OPIOID SETTLEMENT; AND AUTHORIZING THE CITY ATTORNEY, OR DESIGNEE, TO EXECUTE ALL NECESSARY PARTICIPATION DOCUMENTS.
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BACKGROUND:
A new regional national opioid settlement (“Six Remnant Defendants Settlement”) has been reached with the six (6) aforementioned regional distributors/dispenser defendants. The Combined Subdivision Participation and Release Form must be executed, without alteration, and submitted on or before May 4, 2026.
DISCUSSION:
Participation in this settlement will provide the City of Coconut Creek with funds to be used towards opioid abatement and mitigation. To participate in the settlement, local governments must timely file a participation form on or before May 4, 2026, to claim their share of the funds. If effectuated, the proposed Remnant Defendants Settlement will result in the Six Remnant Defendants paying a combined $97,625,000.00 in cash, of which approximately $6,765.90 would be distributed to the City of Coconut Creek, for the purpose of abating the opioid epidemic.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT:
REVENUES: $ 6,765.90, approximately
EXPENDITURES: $ 0
BUDGETED? No
NOTES: Any distributed funds from this settlement will be deposited to Account 61-T22910, Opioid Settlement.