December 01, 2011 | 10:50 AMJust more than two months after the city's insurance company settled with Geneva Ridge Joint Venture for $2.1 million, the city's insurance company has settled with Mirbeau of Geneva Lake for $1.75 million.
Settlement documents officially were filed on Wednesday and the federal case, which started in August 2008, has been dismissed.
Mediation and settlement conferences started Nov. 1.
Both settlements were within the city's insurance cap of $5 million per incident.
Mirbeau was suing the city for $29 million following the failure of their combined development with Geneva Ridge Joint Venture on the 710 acres on the city's south side. The plan included an inn, winery and homes on about 55 acres of the property. The lawsuit has been going on since the summer of 2008 and included claims of unfair treatment, conspiracy to slow down and stop the development and destruction of evidence on the part of elected city officials.
Read the full story about the settlement and cost to the city in next week's Regional News.