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County staff proposes reserving $2 million of Monsanto settlement funds for site preparation; $5.5M left for later decisions
Summary
Lake County staff told the Financial Administrative Committee it received $7.5 million from a 2023 Monsanto settlement and proposed reserving $2 million to support site preparation and Superfund-site remediation tied to economic development opportunities; the committee directed staff to return next week with a formal action to lock $2 million.
Deputy County Administrator Matt Myers briefed the Financial Administrative Committee on Aug. 28 about $7.5 million Lake County received from a 2023 settlement related to polychlorinated biphenyls (PCBs) manufactured by Monsanto. Myers said the settlement originated from a class action that produced a $550,000,000 pool; Lake County received the maximum allocation available for impacted jurisdictions touching Lake Michigan, which was $7,500,000. He said the settlement language provides broad remedial flexibility — funds may be used for remediation, stormwater and water-quality work, education…
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