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  • A Legacy of Success: RACER Trust Delivering on Its Mission of Remediation and Redevelopment

    Wednesday, December 11, 03:30 pm - 04:30 pm

    Town Meeting Conversations
    Track 5: State, Tribal and Local Government Programs and Partnerships
    In 2010, the U.S. EPA and other Federal agencies, 14 states and the St. Regis Mohawk Tribe signed off on a bold new initiative — the creation of a trust to take possession of the surplus properties abandoned by General Motors in its 2009 bankruptcy and execute a dual mandate: safe, protective cleanups, where necessary, and property sales that resulted in new investment, jobs and other benefits for communities hit hard by the GM shutdown. The results achieved by RACER Trust speak for themselves: More than 70 property sales to date, with $2.2 billion in private investment and more than 16,000 jobs pledged. RACER — for Revitalizing Auto Communities Environmental Response — has achieved these results with a singular focus not just on returning properties to productive use, but on attaining the highest and best use for each property based on its unique amenities and characteristics. RACER’s success is built on a platform of transparency — with regulatory agencies, community leaders and the market — and a creative, team approach to solving a range of remedial and redevelopment challenges. The principles on which RACER was founded and by which it operates are broadly applicable to brownfield redevelopment and revitalization efforts nationwide, and a key goal of this town meeting conversation is to send participants home inspired to tackle their own difficult challenges at home knowing that they, too, can be successful.
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