Tagged: Lending

Superfund Task Force Recommendation 27 Listening Session: New Tools to Encourage Private Investment in Cleaning Up and Reusing Superfund Sites

Superfund Task Force Recommendation 27 Listening Session: New Tools to Encourage Private Investment in Cleaning Up and Reusing Superfund Sites

The Environmental Protection Agency (EPA) held a listening session concerning the Superfund Task Force (“Task Force”) Recommendation 27 on June 5, 2018 focusing on new tools for reusing Superfund sites through private investment. The EPA created the Task Force in May 2017, and it is comprised of senior representatives from various EPA offices associated with Superfund policy and enforcement. The Task Force intends to streamline and strengthen the Superfund program. In July 2017, the Task Force issued a report containing five goals and forty-two recommendations. The Task Force’s five goals are to: i) expedite the cleanup and remediation process; ii) reinvigorate responsible party cleanup and reuse; iii) encourage private investment; iv) promote development and community revitalization; and v) engage parties and stakeholders. The full report is available here. Recommendation 27 seeks to implement some or all of the five goals by identifying tools for third parties interested in opportunities that support the cleanup or reuse of priority sites. EPA understands potential investors have concerns about uncertain liabilities, and looks to identify those specific concerns and to identify tools that may address such concerns. For example, the agency may determine standard language to include in agreements that would facilitate financing, and...

The Philadelphia Land Bank – What You Need to Know 0

The Philadelphia Land Bank – What You Need to Know

One stop shopping. That is the goal of the bill that Philadelphia Mayor Michael Nutter signed into law on January 13, 2014, creating the Philadelphia Land Bank. The Land Bank, which is to be fully operational by the end of this year, is intended to streamline and consolidate the process by which the City acquires and sells vacant and tax delinquent properties. The Land Bank will also act as the single repository for the approximately 9,500 vacant and surplus properties currently owned by the City through three separate entities: the City, the Philadelphia Redevelopment Authority and the Philadelphia Housing Development Corporation.

Orange County Clerk’s Office Closes, Preventing Property Searches and Threatening to Delay Real Estate Closings 0

Orange County Clerk’s Office Closes, Preventing Property Searches and Threatening to Delay Real Estate Closings

Due to building conditions resulting from recent heavy rains, the County Executive of Orange County, New York, closed indefinitely the Orange County Government Center as of 3:00 p.m. last Thursday. In a press release, Orange County Executive Edward A. Diana announced having “ordered that the building be closed until further notice as we evaluate and remediate the situation.” The Orange County Government Center houses the County Clerk’s Office, among other government offices.