New rule could speed up brownfield development in US
A new rule announced this week could speed up brownfield development in the US.The All Appropriate Inquiries rule establishes clear standards for environmental due diligence to encourage more urban redevelopment.
Stephen L Johnson, administrator of the EPA announced the rule at the Brownfield's Conference in Denver, Colorado said: "President Bush and EPA are committed to putting both property and people back to work through our successful brownfields program. By making risk management less of a nauseating game and more of a science, we are expanding the number of problem properties that will be transformed back into community assets."
The rule's process of evaluating a property for potential environmental contamination and assessing potential liability for any contamination at the property should increase certainty of Superfund liability protection and improve information about environmental conditions of properties.
The rule was developed collaboratively with stakeholders representing constituencies such as estate agents, bankers, environmental interest groups, the retail industry and state, tribal and local governments.
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