RACER Trust’s Proving Ground Stimulates EfficiencyJudge Robert Gerber, sitting in the U.S. Bankruptcy Court for the Southern District of New York, signed an order in effect creating RACER Trust in March 2011. RACER — for Revitalizing Auto Communities Environmental Response — was handed a portfolio of more than 300 properties scattered over 89 locations in 14 states, properties that for a variety of reasons were considered unnecessary for the future operations of the General Motors Co., or “new GM,” as the company was known after emerging from bankruptcy. The portfolio was as diverse as it was vast, from private homes in Indiana to industrial buildings that dominated the landscape and provided good jobs to generations of workers. RACER’s challenge was compounded by a requirement that prospective buyers, or their end users, come forth with their plans for redevelopment and reuse and prove their capacity for making investments that lead to jobs and associated economic benefits…Log In to Read Full Article
Water, Water Everywhere?
While in the following pages I will recount a number of serious localized water shortages, I can tell you at the outset, this will not be another gloom-and-doom scenario to which you are treated daily in your local and national news sources. Now, in my 54th year of professional effort… Read more
State-of-the-Art Remediation for Brownfield Sites
“That land doesn’t mean anything to you?” In “Gone with the Wind,” Scarlett O’Hara learned that “land’s the only thing in the world worth working for, worth fighting for, worth dying for, because it’s the only thing that lasts.” What if a vacant, blighted swath of land, regardless of ownership,… Read more