Overview

The project for redevelopment goes ahead.

In Sec. 7.1 , Robert Rafson discusses how the developer deals with the contractors.

In Sec. 7.2 , Carey S. Rosemarin and Steven M. Siros bring in the lawyer concerning the contamination issues.

In Sec. 7.3 , Andrew Warren treats another aspect of the legal issues concerning the prospective purchaser agreement, which limits liability.

In Sec. 7.4 , Ernest Di Monte deals with accounting issues and tax effects of the project costs.

In Sec. 7.5 , Dinah Szander discusses environmental insurance, which is a newer approach to dealing with uncertainties. This section considers the need for caution in dealing with the insurance industry. It follows years of litigation for nonpayment of claims and years of unwillingness to insure pollution risks. Now, new insurance vehicles and commitments are becoming an increasing and useful approach, and new types of coverage are being developed.

In Sec. 7.6 , the remediation work now has to be done. The soil and water contamination issues must be corrected, the regulations satisfied, and all work properly sampled, tested, analyzed, interpreted, and monitored. This is the time of project management. Everything has led up to this work, and simultaneously the developer will be performing the demolition and reconstruction. Harold Rafson provides an overview of the issues involved.

7.1 Redevelopment Costs

Robert Rafson

Redevelopment costs of a brownfield project include standard site preparation, construction and landscaping, and environmental cleanup. This discussion focuses on how the brownfield environmental cleanup affects both project...