ATC Group Services, LLC (ATC) recently partnered with a large developer to redevelop several sizable adjacent tracts of extremely high value real estate. The project involved environmental due diligence, building demolition, and redevelopment to best applicable mixed use. The project is considered the largest project in financial terms ever conducted within the North Carolina Brownfields Program and included assessment, environmental decommissioning and abatement, demolition, and targeted remediation during redevelopment.
For a property developer, commercial property owner, business owner, or nonprofit looking to clean up a contaminated site or restore property in an economically distressed area (EDA), there are attractive financial incentives to help get the job done. Thanks to Brownfields tax credits offered by states like Massachusetts as well as the federal government (via the EPA), you can launch or participate in a Brownfields project and recognize significant return on your investment.
When acquiring a site for development, a potentially costly risk is having to clean up hazardous waste and/or remediate environmental dangers within the site’s boundaries. That is why you must have a professional environmental services company perform an environmental site assessment (ESA) prior to acquiring the site in question to minimize your risk.
Environmental Site Assessments (ESAs) help to safeguard commercial/industrial real estate buyers against liability for cleaning up hazardous environmental contaminants. While these assessments, such as the Phase I ESA, tend to focus on the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property, buyers should be aware of the risks of future vapor encroachment from nearby properties.
Have you seen the solar panel arrays on the side of major highways? Look fast, because some states are moving away from this practice. That means other sites that fit the model for the cost-effective deployment of this source of renewable energy will be needed to meet the growing need for solar power.
The Massachusetts Underground Storage Tank Program (the “21J program”) was established in 1991 by Massachusetts General Laws Chapter 21J. The purpose of the 21J program is to "prevent the need for environmental cleanup actions and to expedite environmental cleanup actions by providing partial reimbursement to owners or operators of underground storage tanks … for costs, expenses and other obligations incurred as a result of releases of petroleum products …” from their underground storage tank (“UST”) systems. (Emphasis added).
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Welcome to our postings on the environment and regulatory impact. We strive to keep you informed with the latest changes in regulations and with lessons learned from our time in the field
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