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Environmental Liability Insurance for Owners, Developers, Lenders and Contractors

Redevelopment of a brownfield property, whether it be for a high-profile stadium or a small apartment complex, requires the coordination of efforts between property owners, developers, lenders, govern-mental regulators, contractors and the general public.   Each of these parties has its own personal economic and environmental interest in the betterment of the brownfield. At the same time, each of these players brings to the table his or her own concerns, biases and risk tolerance. These factors may be influenced by prior experiences or simply based upon the fear of the unknown; their perception is their reality and negative perceptions can kill redevelopment deals. Potential roadblocks introduced by the interested parties are many and valid—lenders concerned they may inadvertently absorb a contaminated property onto their balance sheet; an owner worried about the dreaded regulatory reopener notification; regulators concerned about the idea of families moving onto a site with potential exposure pathways;…Log In to Read Full Article

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