Contaminated Property Transactions: Deals for Redevelopment
10:30 - 11:30 Panel Discussion"Measuring the Effect of EPA's Proposed Rule on "All Appropriate Inquiries" (AAI) and Post Acquisition Appropriate Care
- How will the codified regulation affect buyers seeking to limit CERCLA liability?
- Landowner liability protections require performing AAI in conformance with statutory regulatory criteria
- New EPA guidance on exercising appropriate/due care by taking reasonable steps to control/prevent releases
- Performance based approach assigned to ten criteria establishes due diligence
- New definition and performance criteria for the Environmental Professional
- Resolving major points of contention/results from the negotiations
- Public comments on proposed rule for AAI and determining appropriate care for pre-purchase and post-purchase due diligence
- Measuring the effect of the EPA regulation on marketplace brownfield transactions; modifying the ASTM E1527 interim standard to be compliant with AAI
- Unresolved potential liability issues affecting the bona fide prospective purchasers and tenants
Barry J. Trilling, Partner, Wiggin and Dana LLP, and NAIOP Representative
Abbi Cohen, Partner, Dechert LLP and Mortgage Bankers Association of America Representative
Julie Kilgore, Principal, Wasatch Environmental, Inc.
Helen Keplinger, Attorney-Advisor, Office of Enforcement and Compliance Assurance, U.S. EPA
Dean Jeffery Telego, President, Risk Management Technologies, Inc, and Executive Co-Director, Environmental Bankers Association (Moderator)