Firm owed more than $11 million

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORERose Parade grand marshal Rita Moreno talks New Year’s Day outfit and ‘West Side Story’ remake RFI entered an agreement to buy the acreage from Whitaker-Bermite, one of several companies that did munitions testing on the land for some 80 years. The two companies had planned a development of more than 3,000 homes to be called Porta Bella. Delays in the cleanup, which includes work on the ground and in well water deep below the surface, resulted in RFI’s bankruptcy in 2004. Golden Valley Road is a segment of the city’s planned Cross Valley Connector, an 8.3-mile expressway that will link Interstate 5 with the Antelope Valley Freeway. An Arizona company is owed more than $11 million for land the city of Santa Clarita used for a section of the new Golden Valley Road. It was unclear late Thursday what the ruling means, because Phoenix-based Remediation Financial Inc., which owned the defunct Bermite munitions plant in the heart of the city, is in the midst of bankruptcy. Following the month-long trial in Los Angeles Superior Court, a jury awarded RFI $11.6 million compensation for the road’s impact on the nearly 1,000-acre property, now undergoing cleanup of toxic chemicals, and $748,534 for the 13.3 acres on the eastern edge of the land where the road cuts through. RFI had sought $38 million. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img

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