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Last modified
7/17/2007 12:28:21 PM
Creation date
12/8/2004 1:57:39 PM
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Template:
Planning Files
Planning Files - Planning File #
2990
Planning Files - Type
Rezoning
Address
1722 LEXINGTON AVE N
Applicant
LEXINGTON PLAZA, LLC
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<br />01/27/1998 15:12 <br /> <br />5124841903 <br /> <br />GARY MCLEAN INC <br /> <br />PAGE 02 <br /> <br /> <br />12251 Tech Raid, SHyer Spring.. Maryland ~0904 <br /> <br />(301) 622-1900 <br /> <br />Environmental Factors To Consider With <br />Plant Locations <br />What Concerns Are 1here <br /> <br />Parties involved i~ the ,selling .or purchasing of commercial real estate must conduct environmental as- <br />sessments In today 9 business chmate. Over the last year, we have received an increa~in~ number of caUs <br />from in.dlv~duaI9 who have been unable to buy or sell a drycleaning plant because of SOli or groundwater <br />contammatIon. <br />Because of strong environmental laws and the raising of the public's awareness, many financIal institu~ <br />tions are requiring environmental audits such as soil and water testing. Some states are al80 requiring en. <br />vironmental audits which specify that contaminated soil or water, if found, must be cleaned up before a <br />sale can take place. This bulletin will help potential buyers aod sellers of drydeaning plants look at <br />some of the key NEnvironmental Pactors" in picking a plant location. <br /> <br />Federal and State Laws Related to Contaminated Propercy <br /> <br />The 1980 Comprehensive Environmental Response Compensation, and Uability Act (CERCLA), better <br />known as Superfund, states that individual companies can be made individually or coHectively responsi. <br />ble for environmental cleanups of waste. While there are many environmentaJ laws that cover notifica- <br />tion requirements for spills, accidental release, etc., nowhere is the issue of cleanup and liability stated a!i <br />clearly as it is in the Superfund law. <br />The first state in the country to have a state propercy transfer law detailing environmental cleanup re- <br />sponsibilities was New Jersey, whose law became effective on December 31. 1983. Since then, Connecti. <br />cut, Pennsylvania, Minnesota, and West Virginia have enacted similar laws and several others are await- <br />ing passage. Additionally:, several states now require sellers to notify prospective buyers about current or <br />past presence of oJ'l-site hazardous waste materials (including petrofeum); and/or require supporting docu- <br />mentation stating that no ha~dous waste discharges have occurred on the site. <br /> <br />Financial Institutions: Worried About Loans on Contaminated Property <br /> <br />What about Anancial institutions, investors, and other 6nancially.interested parties? In todays business <br />climate, they are particularly concerned about potential environmental problems with real estate. Firtan. <br />dally-interested parties usually have a great deal at stake and they want to protect tl1eir investment; they <br />do not want a buyer to beUy up in the wake of environmental problems. <br />Most importantly, however, is that if a property has reverted to a bank or lender through foreclosure or <br />other means, and contamination is discovered, BPA can require the bank or lender to pay for all cleanup <br />costs.. and this has been occurring! IFI knows of a number of cases where banks are now insisting on soil <br />analyses of plant locations as a condition of lending money or of refinancing! <br />A bill recently introduced by Senator Jake Garn (R-UT) would amend Superfund to protect innocent <br />lenders and federal banking agencies from liability for cleaning up contaminated property. As the Ameri- <br />can Bankers Association stated. "Instead of exposIng themselves to lawsuits, many lenders wl1l simply <br />avoid making litigation-prone loans to a long list of enterprises" ---and drydeaning was amOJ'lg the indus- <br />tries mentioned as "litigation-prone." <br /> <br />Factors Affecting Existing or New Plant Locations <br /> <br />In addItion to factors related to laws or other "outside" influences On plant propertr' there are a number <br />of facors related to plant locations that plant owners have a greater degree of contro over-and should be <br />aware of. <br />Soil T estJng <br />Soil tests should be done for the presence of perchloroethylene (perc) and/or other solvents prior to pur. <br />chase. Por example, if a person buys a store in a strip shopping center and two years later perc is found in <br /> <br />...._--'- <br /> <br />t-o <br />t-r <br />..... <br /> <br />~ <br />C <br />r:- <br />r- <br />m <br />tJ <br />Z <br />~ <br />~ <br />2: <br />z <br /> <br />. <br />..... <br /> <br />I' <br />(; <br />c <br />C <br />l <br />> <br />..... <br />C <br />~ <br />--< <br /> <br />---. <br />r- <br />tr: <br />c: <br />~ <br />u: <br />t'"""' <br />> <br />~ <br />..,.: <br />< <br />tI: <br /> <br />z <br />o <br />. <br /> <br />0" <br />
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