Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Legal Development topic
No spam. Unsubscribe anytime.
Mayor: Point Ruston developer files Chapter 7; city weighing legal and remediation options for Lot 10C
Summary
Mayor Bruce Hopkins told the council Point Ruston filed for Chapter 7 bankruptcy; the filing limits sales of remaining properties and raises questions about remediation and ownership of contaminated soil at Lot 10C, which the city says was deposited with EPA approval.
Mayor Bruce Hopkins reported to the council that Point Ruston has filed for Chapter 7 bankruptcy, a development he said will prevent sale of most remaining Point Ruston properties except the OCF and Lot 10C. He told the council the City had earlier supported Terracotta's potential acquisition because discussions included building a public park on the OCF.
Hopkins said contaminated soil on Lot 10C "was not originally intended to be placed at that site" and that the location had previously been a remediated pond. He said the material was later deposited with approval from the Environmental Protection Agency and that the City is interested in transferring Lot 10C from the EPA so remediation could proceed under public ownership. The mayor said the City has retained a new legal firm to address legal and liability concerns related to the potential transfer and remediation. Councilmembers did not vote on any action related to the bankruptcy or Lot 10C at the meeting.
