Development of Brownfield Properties: What the Lawyer Can Do to Help
Brownfield properties present intriguing and difficult, yet potentially unparalleled opportunities for development by both public and private entities. The liabilities associated with these actually or apparently contaminated properties should concern any party considering the purchase, sale, leasing, financing, development, or remediation of a Brownfield site. Owners, purchasers, lessors and lessees, and developers of environmentally contaminated properties, as well as their lenders and the local government agencies with whom they must interact, should not ignore the importance of having an experienced lawyer to advise them on any Brownfields transaction. This article provides a brief overview of the liability picture associated with Brownfield properties and of the services that a party contemplating a transaction involving a Brownfield property should expect from its lawyer.