Lake Restoration Solutions, the company proposing to spend billions to dredge Utah Lake and create some 18,000 acres of man-made islands, announced its dissolution this week.
In a letter addressed to 3rd District Judge Laura Scott, company president Jon Benson said Lake Restoration Solutions no longer has the financial resources to continue operations or satisfy its debt obligations, and that the company could not "secure any new funding sources to remedy the financial shortfall.
That case was also withdrawn Tuesday after Lake Restoration Solutions filed a notice for voluntary dismissal in Utah's 4th District Court. "We are so grateful for the tremendous support for the Utah Lake Restoration Project from Utahns all over the state. Utah Lake continues to face significant challenges and is in dire need of restoration. Unfortunately, Lake Restoration Solutions no longer has the financial resources to continue its effort to restore and enhance Utah Lake," Benson said.
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