The new Vapor Intrusion Considerations for Redevelopment Primer from EPA’s Brownfields and Land Revitalization Technology Support Center (BTSC) is now available electronically at http://www.brownfieldstsc.org/pdfs/BTSC%20Vapor%20Intrusion%20Considerations%20for%20Redevelopment%20EPA%20542-R-08-001.pdf

Note: This was originally published at www.sustainableindustries.com

5 ways to flip a brownfield
by Becky Brun - 4.29.07

Drive down just about any major thoroughfare in any U.S. town, and you’ll pass a fenced-off lot littered with crumbling concrete, patches of weeds and heaps of debris. While the aboveground scene might look scary to onlookers, the landscape below is likely even more appalling.

CA DTSC Introductory Video on Brownfields

The link referenced above is kind of an interesting introduction to brownfields in California.  It provides case studies and success stories and explains how the California Department of Toxic Substances Control can help with redevelopment of environmentally challenged properties

The article below was written by Michael Greenberg of Edward J. Bloustein School of Planning and Public Policy at Rutgers
University.

Politicians are or should be motivated to endorse brownfields redevelopment programs because public support is strong and it’s an acceptable way to stimulate private enterprise and local governments into economic, housing and community development. Brownfield projects have a definite beginning and end and aren’t likely to turn into a social assistance program that builds dependency and has no end.

Comment: Article mentions a few states in the NE that have a friendly competition for most successful brownfields programs. Great! We need to find a way to expand that competition nationwide.

Comment: I also like that the article links brownfields development with “smart growth”, reduction of urban sprawl, etc. Smart growth and brownfield development are on parallel paths toward a better future for our communities; they’re not always thought of as linked together but they can be.

Comment: The closing statement mentions a survey of report/s/ers concluding that brownfields programs are a major improvement over the Superfund program, which they portray as having scared investors away from urban redevelopment.

The article below provides an interesting historical perspective on Superfund and progress on NPL sites.

Established in 1980, under CERCLA, in the amount of $1.8bil. At that time, common belief was that sufficient funds and technology existed to clean up all abandoned hazardous waste sites by 1985.

By 1985, only six sites had been completely remediated. In 1986, the Superfund was replenished to $8.5bil.

By 2002, 810 sites had “construction completed” status.

The article also provides a summary of some remediation methods.

Prospective Purchaser Agreements (covenant not to sue)

Status, Comfort and No-Action Letters (no further action letter)

Negotiated Cleanup Standards (You Don’t Need a Cadillac Cleanup to Park Your Pickup)

Consent Decree (government version of a settlement agreement)

Lease from Redevelopment Agency

Environmental Liability Acquisition Companies

Indemnities and Releases

Environmental Risk Insurance

Comment: Complete article below is from 1996 but still is a great introduction to strategies for limiting environmental liability.

Another great article by Thomas Jackson (see his other articles posted here about valuation of contaminated land).

“The earliest notions of stigma and its effect on property values held that any adverse environmental impact on property value could be categorized as environmental stigma. This notion of stigma made it difficult to explain and even more difficult to measure….Recent empirical research has found that parties to real estate deals are increasingly knowledgeable and experienced in dealing with environmental risks. As knowledge and experience increases, risk is more accurately assessed, and generally risk related effects on property values decrease.”

Comment: As always, if you have an appraisal issue with respect to contaminated land, Thomas Jackson should definitely be on your call list.

This article concludes that industrial properties with known unremediated contamination transact at prices 30% less than properties without known contamination issues, and subsequent to remediation, recover to values similar to those without known contamination issues.

Comment: After reading this artice a couple of times, I’m quite sure I’ll never understand all of the statistical modeling behind it’s methodology and conclusions. One thing I do understand is that if any of our readers are even remotely interested in talking with an appraiser who knows about environmentally distressed properties, they absolutely must call Thomas Jackson (http://www.real-analytics.com/). I have to believe he is the, or at least one of the, top specialist(s) in the world at being able to combine appraisal of industrial real values (this alone is a very complex issue, when done correctly with regression analysis, researching all the appropriate attributes of value) with the the additional task of seeking out the scarce information available on transactions for contaminated land, and analyzing them both and making conclusions in such a logical and defensible manner.

At various times, I come across the term RAP (Remedial Action Plan) and at other times I come across the term RAW (Remedial Action Workplan). I believe the difference might be that the former is used while negotiating with the regulatory agences and the latter is what has been approved by the regulatory agencies, subsequent to the negotiation period.

Question: Can any of our readers correct my interpretation or provide a more precise answer

Categories, Posts, Comments and Archives:

Search for a topic that interests you. Comment on what you learned, what you wish you would have learned, how you agree or disagree, or comment on anything at all.

Subscribe:

Get automated updates to this site to stay current with the community. Select to be updated with a daily email summary of posts, or select to be updated “real-time” by subscribing to the “feed.” If you need help with these update services, just give us an email or a call and we will be happy to help you get set up.

Permalink:

This links to a specific post or topic. Email it to someone or save it in your “favorites” so you can revisit later.

Contact Me With Other Questions/Comments:

We need you to stay active in this community! Email or call to let us know what topics or articles you want to see a post about. See what the community has to say about your issue. Let us know about events, publications, etc., that you’re reading or producing and that should also be on our site.

Links:

Link our web site to yours, if your readers will benefit from our content.