|5/19/2017 11:11:00 AM|
Lands' End litigation comes to an end
|"For the first time in many years, we can say that we can end this," Dodgeville Mayor Todd Novak said at the council's meeting Tuesday night. "We have settled with Lands' End."|
The announcement was the first one publically made by either the City of Dodgeville or Lands' End - that litigation spanning several years had finally come to a close.
The original lawsuit started in 2006, which sparked the beginning of several court battles over the value of the Dodgeville-based company, including one proceeding that reached all the way to the Supreme Court.
The settlement agreement between the City and Lands' End outlines that both parties agreed on a $32 million valuation for 2013, 2014, 2015 and 2016, and that Lands' End is locked in to that valuation for two more years.
The agreement also outlined that if there are any future disputes, that the two entities reach out to a mediator first before attempting a lawsuit.
The City of Dodgeville also cut Lands' End a refund check for $988,443.10 as part of the agreement. Novak stated that the checks had been delivered and have been cashed by the company.
Funding for the refund has come partially out of the TIF District (which is now closed) and from the City's Reserve Fund. With the TIF closing, $16 million of equalized value returns to the tax roll, and the remainder of funds will be distrubuted to taxing entities.
Novak thanked Jerome Griffiths, Lands' End's new CEO, for making the settlement a priority....
See the rest of the story in the May 18 Chronicle issue.
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