  We present a two-sphere dumbbell configuration of a rotating settlement at
Earth-Moon L5. The two-sphere configuration is chosen to minimize the radiation
shielding mass which dominates the mass budget. The settlement has max 20
mSv/year radiation conditions and 1 g artificial gravity. If made for 200
people, it weighs 89000 tonnes and provides 60 m$^2$ of floorspace per person.
The radiation shield is made of asteroid rock, augmented by a water layer with
2 % of the mass for neutron moderation, and a thin boron-10 layer for capturing
the thermalized neutrons. We analyze the propulsion options for moving the
material from asteroids to L5. The FFC Cambridge process can be used to extract
oxygen from asteroid regolith. The oxygen is then used as Electric Propulsion
propellant. One can also find a water-bearing asteroid and use water for the
same purpose. If one wants to avoid propellant extraction, one can use a fleet
of electric sails. The settlers fund their project by producing and selling new
settlements by zero-delay teleoperation in the nearby robotic factory which
they own. The economic case looks promising if LEO launch costs drop below
$\sim$ \$300/kg.
