Brownfields Rule Sparks Debate
Hoping to devise a new brownfields rule to foster increased redevelopment of
contaminated property, the Environmental Protection Agency has been meeting
for the last three months with individuals from 25 groups representing the
government, the real estate industry, and the environment. Representatives
of such groups as the National Association of Home Builders and the Real
Estate Roundtable are among the various residential and commercial property
interests arguing that some of the ideas being considered are even tougher
than standards currently in place and could inadvertently discourage
redevelopment efforts.
Recently, a heated debate broke out over whether the new rule should require
interviews with owners or occupants of sites located next to the for-sale
property. Opponents insist that adding interviews would make the
redevelopment process unnecessarily burdensome because it would add yet
another layer of inquiry; transaction confidentiality also has been a
dividing issue.
Source: Wall Street Journal
(06/25/03);
Smith, Ray A.
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