City settles development claim with development finance company
It's one thing when a housing developer has financial hardships and dissolves the company. It's something entirely different when the finance company that assured that developer falls into financial straits.
That's what the city of Farmington has found out. On Monday, the Farmington City Council agreed Monday to settle a claim with Lakeland Construction Finance, putting an end to a more than two-year struggle with the ailing finance company.