State regulators are seeking to strike a deal with a Colorado company that failed to meet its obligation to clean up one of the state’s most polluted sites — a settlement that local watchdogs say is a bailout for the now-insolvent company.

The residents of Cañon City who have lived next to the defunct uranium mill say the amount the state is settling for is not nearly enough to cover the legally required decontamination of the site. About 5.8 million tons of radioactive waste sit at the former mill site, which covers 4 square miles south of Cañon City.

If a judge accepts the state’s proposed agreement, the Superfund site’s owner, called Colorado Legacy Land, will pay $189,343 in past-due licensing and inspection fees plus a $3.3 million judgment. That’s in addition to the $22 million i

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