How Do You Eliminate the Unknowns of Your Redevelopment Property?Kentucky does not have any tax dollars to be used to fund Brownfields redevelopment. As a result some large Brownfields projects, Papa John's stadium and the Louisville riverfront redevelopment come to mind, did occur. However, many smaller Brownfields projects needed some sort of assistance. With that in mind the Department of Environmental Protection management team proposed legislation in 2012 to assist with Brownfields redevelopment. As a result KRS 224.1-415 was enacted and the Kentucky Brownfield Redevelopment Program was created. One of the items which hinders Brownfields redevelopment is the concern that a large and expensive environmental cleanup will be required once conditions on a site are actually discovered. The purpose of Kentucky's Brownfield Redevelopment Program is to remove this fear of the unknown. The statute does this by removing uncertainty about environmental characterization and remediation. If a property owner complies with the statute and the accompanying regulations and the Department…Log In to Read Full Article
RACER Trust’s Proving Ground Stimulates Efficiency
Judge 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… Read more
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