Quoting from a press release and announcement through the PRNewswire:
Vulcan Materials Company today announced the settlement of a lawsuit filed against the Company by the State of Illinois and the Illinois Department of Transportation (IDOT). IDOT will receive a total of $40 million in full and final settlement of the lawsuit.Under terms of the settlement, IDOT will receive $20 million within 10 days. The remaining $20 million will be paid as Vulcan receives funds from its insurers, with the full amount to be paid no later than nine months from the date of the settlement. While Vulcan believes that the settlement is covered by insurance policies and is taking appropriate actions to facilitate recovery from its insurers, the ultimate amount and timing of such recoveries cannot be predicted with certainty.
More information about how this section of Joliet Road is important to Route 66 is available in two recent blog post on this website, click here or here to see those earlier blog posts.
Tags: IDOT, Illinois Department of Transportation, Joliet Road, McCook, Route 66, Vulcan Materials
