• Municipal Regulation of Land Cleanup


Municipal Regulation of Land Cleanup:An Idea Whose Time has Come

Before selling your contaminated property to a Brownfield developer there are at least five burning questions that have to be addressed. Deterred by the fear of future liability or high cleanup costs, many corporations are compelled to leave contaminated Brownfield properties dormant for years or even decades. It is estimated that only 10% to 15% of Brownfield sites have been addressed, with more than 80% of the market untapped. Increasingly, as real estate values recover, corporations are revisiting the do-nothing approach to manage their balance sheet liabilities and turn distressed real estate assets into cash. Historically, eliminating Brownfield liabilities has been complicated and expensive. Today, selling a contaminated property to an experienced Brownfield developer can be an attractive option because it requires no cash outlay on the part of the owner, can often be completed quickly and requires little expertise to manage or navigate the environmental regulations. However, the original…Log In to Read Full Article

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