Posts Tagged ‘Vulcan Materials’

More on the IDOT-Vulcan Materials Settlement concerning Joliet Road

Tuesday, May 18th, 2010

$40M settles Joliet Road closure dispute :: The SouthtownStar :: News

SUN-TIMES MEDIA WIRE

A company that produces construction materials will pay $40 million to the Illinois Department of Transportation after a 12-year legal dispute about a section of Joliet Road in McCook.

Vulcan Materials Co. does not admit liability in the settlement, which was reached after three weeks of negotiation, IDOT said Tuesday.

The one-mile stretch of Joliet Road from 55th Street to East Avenue was closed in May 1998 because the road was substantially damaged and unsafe for vehicular traffic. The one-mile stretch runs through the middle of two Vulcan open pit quarry mines, one to the north and one to the south.

IDOT experts concluded the roadway was destabilized from years of mining by Vulcan and any attempts to repair and reopen Joliet Road would require frequent and expensive maintenance, including lane closures, IDOT said. Vulcan at the time would not agree to state-requested mining setbacks and land contributions necessary to implement repair options.

The lawsuit was filed by the state in 2001. Vulcan has ceased mining activities in the two quarries and has announced plans to fill and develop the north quarry.

IDOT and Vulcan Settle Joliet Road Lawsuit

Tuesday, May 18th, 2010

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.