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Borough reports initial PFAS settlement payments from 3M; more payments expected
Summary
Borough attorney said Waldwick has received a first PFAS settlement payment and expects a second larger installment in the next two weeks as part of the 3M settlement; additional settlements involving DuPont, TICO and BASF are pending allocation work.
Waldwick’s borough attorney reported Sept. 30 that the borough has begun receiving funds from national settlements tied to PFAS litigation.
Craig Bazan told the council the borough received an initial payment from 3M last month of about $212,293 “and change,” and that a second payment of roughly $484,853 is expected in the next two weeks. Bazan said those disbursements represent about 65% of what the borough is entitled to under the 3M settlement and that further payments will be distributed over the next eight years with step‑downs from about 6% to 2% during that period.
Bazan also said the litigation council is working on allocations from a DuPont settlement and from settlements with TICO and BASF; he cautioned that numbers for those funds were still being worked out and that the borough should not assume immediate receipts beyond the 3M payments already in motion.
The council did not take any action tied directly to the receipts at the meeting. Bazan’s remarks established that settlement funds are beginning to be distributed and that staff and counsel will report additional allocation details as they become available.
Bazan: “The first payment was received, I believe, last month in the amount of $212,293 and change. The payment that will be coming in probably in the next two weeks is in the amount of $484,853.”
