COST RECOVERY FURTURE RESPONSE COST & WORK FOR RD/RA ON LIBERTY'S PARCELS ONLY ( A PORTION OF THE CRATER SUPERFUND SITE) PURSUANT TO THE CONSENT DECREE.
On August 1, 2019, EPA and DOJ sent a demand for stipulated penalties (Demand) to Renaissance Land Associates II, L.P. and Renaissance Land Associates III, L.P. (together, RLA) in the amount of $211,000 for alleged violations of the financial assurance provisions in the May 10, 2018 Consent Decree (CD). On August 19, 2019, RLA invoked informal dispute on the Demand. On April 20, 2021, EPA, DOJ, and RLA executed a non-judicial settlement (Settlement Agreement). The Settlement Agreement resolves the informal dispute and requires RLA to pay $150,000 plus interest at the LIBOR interest rate in installments over 1.5 years. The Settlement Agreement also contains an acceleration clause requiring immediate payment of the full balance of penalties plus interest if RLA fails to make a payment.