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Understanding the Challenges
Brownfields redevelopment was a pie in the sky idea when it first surfaced. The redevelopment of brownfields entails taking slightly contaminated properties and finding new productive uses for them. The government, at both the federal and state level, has been bending over backwards to encourage the redevelopment of these contaminated properties.
We all know these properties. They are the old factories, warehouses, gasoline stations and the like which became slightly contaminated, often by companies that have not been around for many years. Or if they are, they are bankrupt.
Classically, they were avoided because often they were located in bad locations (remember location, location, location), and nobody could determine, in advance, how much money it would cost to clean these "challenged properties" up. And if people did buy them, they were afraid that they too would become liable for cleanup costs even though they had nothing to do with why the properties became dirty.
Laws and attitudes have changed, and most would agree they have changed for the better. State and federal laws have been changed making it easier (and more cost effective) to clean these contaminated properties. Long gone are the days when every single molecule of dirty dirt always has to be removed.
And if no one is drinking the ground water, often more relaxed cleanup standards apply to that as well. Of course, this depends on what's in the drinking water and what concentration exists.
Some Common Brownfields Development Issues:
1. Liability Reduction
2. Lender Liability Concerns
3. ISRA Compliance
4. Tax Implications
5. Environmental Opportunity Zones
6. HUD Financing
7. EPA Loans/Grants
8. Prospective Purchasers Agreement and Comfort Letters
9. New Jersey Brownfields Act
10. State Loans/Grants
11. Brownfields 75% Reimbursement Program
12. Innocent Owner Status
13. Spill Act Treble Damages Provisions
14. Underground Tanks: Funding/Liability/Concerns
15. Cleanup Standards
16. Environmental Justice Factors
17. Effective Use of Environmental Insurance
These are some of the tools that are now available to encourage brownfields redevelopment. Our lawyers are most familiar with these and other redevelopment vehicles. Why not call us to discuss your plans.
Lieberman & Blecher Assists Clients In Brownfields Redevelopment Matters
If you are buying, selling, or otherwise involved in a "brownfields" transaction, our lawyers can help you through the process.
Brownfields are moderately contaminated properties, and many commercial properties in New Jersey fit this description. Which means, you may be purchasing, selling or developing a brownfield and not even know it.
Our firm understands brownfields. We are familiar with the legal mechanisms required to protect purchasers, sellers, tenants and operators.
Brownfields can be re-developed and there are tremedous opportunities for those who are creative, ambitious, and yes, sometimes a little patient as well.
Before the word "brownfields" existed, our lawyers were providing legal guidance for the purchase, sale and lease of contaminated properties in New Jersey. We have testified before the Legislature concerning the various brownfields laws that have emerged over the last decade. We have lectured countless times, written many articles, and have helped many clients succeed at what was unheard of ten years ago.
Do you have a brownfields project? If so, you need an experienced legal team. One who understands the options, one that has worked with the DEP and EPA to secure necessary agreements, one that has, to use a common expression, "been there, done that."
|Call Lieberman & Blecher today to discuss your project. We are here to help your ambitions turn into completed, success stories.|