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It may not be a native species because Laffite's Cove is in the center of a neighborhood.
Taken from the wiki (not medical advice) - Bougainvillea spectabilis has been reported to have anti-inflammatory, anti-bacterial, anti-viral, anti-tumor, anti-hypercholestrolemic, anti-hyperlipidemic, and anti-fertility properties. The Yanadi tribe of Chittoor district, Andhra Pradesh, India, once used the leaves of Bougainvillea spectabilis to heal diabetes. The plant is also widely grown as an ornamental plant. The sap of the Bougainvillea can cause serious skin rashes, similar to toxicodendron species.