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New Law Makes Market

Event: The state of Michigan first to adopt new legislation (Part 201 of the Michigan Natural Resources and Environmental Protection Act) that replaces strict liability in Michigan law with causation liability. Action: Makes polluters responsible and liable for cleanup. This reduces prospective purchasers’ fears of environmental liability and begins to open the market as developers begin to purchase and redevelop brownfields in Michigan. Connection: More than 3,000 sites are entered in the state program, $200 million of government funds are invested and over $2 billion of private sector funds are attracted to redevelopment in Michigan. Creates a competition among states to develop the best state brownfield program and use brownfields as a tool for economic redevelopment. During the early ’90s the state of Michigan was experiencing tough economic times due to the downturn in the auto industry. Many plants and factories were being closed as auto sales slumped. These factories…Log In to Read Full Article

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