Kaplan Kirsch & Rockwell partner Polly Jessen commented in a March 2, 2018, Bloomberg Environment article on the Environmental Protection Agency’s (EPA) effort to turn Superfund sites into redevelopment opportunities.
Under Administrator Scott Pruitt, the EPA made Superfund cleanup an agency priority. It released a Superfund Redevelopment Focus List of 31 sites and began encouraging potentially responsible parties to plan for redevelopment during remediation. As part of that push, the agency is strengthening the reassurance letters it gives to prospective buyers, developers, and lenders. These letters outline a site’s potential liabilities so the parties can make informed decisions.
Polly Jessen pointed out that the letters do not currently provide specific liability protections. She added that the EPA already recognizes many of their shortcomings and has identified them for improvement. She advises clients through the Firm’s Brownfields practice, which helps public and private clients turn contaminated properties into safe, productive sites.
The article also includes comments from developers and environmental liability transfer companies. They say clearer liability guidance and faster agency decisions are drawing new interest in contaminated properties. One example is the Tex-Tin Superfund site in Texas City, Texas, part of which has been redeveloped into a crude oil terminal.
