• Rockford, Ill.: Modernizing a Century–Old Community Landmark

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It’s Time to Put 25 Years of Lessons Learned to Productive Use

For more than 25 years the remediation consulting and contracting industry has been providing services using time-and-materials contracting as a means to manage the risks associated with the uncertainties of contaminant behavior and diverse underground conditions of impaired properties. This was a normal learning process, in which the cost of the education was laid at the feet of the parties responsible for the environmental effects. However, as with any learning process a time comes when the lessons must be put to productive use and the money and time invested in learning must be shown to have a greater benefit. By combining comprehensive risk management, extensive remediation experience, recognition of financial issues and creative cleanup approaches, a new way of contracting environmental cleanup evolved to address the needs of developers. Guaranteed remediation programs, also known as firm, fixed-price remediation with insurance, were developed to address the need for cost-effective, time-certain site…Log In to Read Full Article

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