A woman collects soil in a test tube for analysis. Credit: kaninstudio/Adobe Stock Long-Term Stewardship Required for Contaminated Real Estate
In their Environmental Law column, Michael B. Gerrard and Edward McTiernan review New York's requirements for long-term property stewardship when residual contamination remains in place. They also discuss recently proposed NYSDEC guidance that will add a requirement to provide financial assurance to these long-term obligations.
September 13, 2023 at 12:00 PM
10 minute read
In the 1980s, environmental agencies across the country, including the U.S. Environmental Protection Agency and the New York State Department of Environmental Conservation (NYSDEC), began to recognize that requiring owners and responsible parties to restore contaminated real estate to pristine condition was costly, time consuming and often unnecessary. Stringent environmental cleanup requirements were also driving development and jobs to pristine 'greenfields' while contributing to urban decay associated with contaminated 'brownfields.'
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