Virginia Beach proposes multi-million dollar settlement with surf park operator
Virginia Beach proposes a $3 million payment and land transfer to Venture Waves to settle a dispute over contaminated water discovered during surf park construction.Summary
Virginia Beach is proposing a multi-million dollar settlement with Venture Waves, the operator of the Atlantic Park surf lagoon, to resolve a two-year dispute over contaminated groundwater discovered during construction. The city has offered $3 million and the conveyance of approximately 1.8 acres of Oceanfront land, valued at $5 million, to Venture Waves. The dispute arose when Venture Waves encountered contaminated water containing elevated levels of iron and arsenic while excavating the surf lagoon, initially seeking the city to cover the $1 million remediation cost. While Venture ultimately covered the costs to continue construction, the parties have now reached a potential settlement agreement. The agreement also clarifies that the city will not be responsible for any future environmental cleanup costs related to Phase 2 of the Atlantic Park project. Venture is also pursuing $10 million in state funding for the project, with the city acting as a pass-through entity. The Virginia Beach Development Authority is scheduled to vote on the proposed settlement on Tuesday.
(Source：Pilotonline)