EPA accelerates brownfields development
Washington, DC— Stephen
L. Johnson, administrator of the Environmental Protection Agency,
was scheduled to announce the All Appropriate Inquiries Rule at
this year’s Brownfields Conference in Denver, Colorado,
held in November. The new rule establishes clear standards for
environmental due diligence that will encourage more urban redevelopment.
The All Appropriate Inquiries
Rule is expected to increase private cleanups of brownfield properties
while reducing urban sprawl, affecting more than 250,000 commercial
real estate transactions nationwide annually. The rule’s
process of evaluating a property for potential environmental contamination
and assessing potential liability for any contamination at the
property increases certainty of Superfund liability protection,
and improves information about environmental conditions of properties.
The rule was developed collaboratively
with stakeholders representing diverse constituencies such as
bankers, environmental interest groups, retailers, environmental
justice organizations, and state, tribal and local governments.
Over the last decade the EPA’s
brownfields program has attracted more than $7 billion in public
and private investments for the cleanup and redevelopment of brownfield
properties in cities and towns across the nation, creating more
than 33,000 jobs. During this time, more than 7,000 properties
have been assessed for environmental contamination.
For information, visit the EPA’s
website at www.epa.gov/brownfields.