Lenders and Insurers Beware: EPA’s Revised Clean-Up Goals Will Add Costs and Confusion to Brownfields Redevelopment
Author: David B. Fischer.
Source: Volume 23, Number 05, May/June 2010 , pp.49-53(5)
< previous article |next article > |return to table of contents
Abstract:
The financing of brownfields redevelopment projects is fraught with potential barriers under the best of circumstances. Now, the EPA has proposed much more stringent clean-up requirements that will increase redevelopment costs and prevent successful project completions, leaving lenders and developers “holding the bag” after a borrower default.Keywords: brownfields; environmental insurance; dioxin; clean-up goals; redevelopment cost; lender liability
Affiliations:
1: American Chemistry Council.