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  • Emerging Contaminants: Getting Past Fear of the Unknown

    Wednesday, December 11, 10:45 am - 11:45 am
    411
    Panel Discussions
    Track 6: Liability and Enforcement
    The specter of emerging contaminants is enough to send even the most experienced real estate developer running for the relative comfort of a greenfield project. The uncertainty can be paralyzing, adding another impediment to the redevelopment and reuse of impaired properties. Managing the risk to induce investment requires an integrated team approach that involves the seller’s and the buyer’s real estate, remediation and legal teams and the candid participation of environmental regulators who ultimately will decide the cleanup standard and remedy now and in the future. RACER Trust owns a portfolio of properties in Michigan, a national leader in the research and regulation of PFAS chemicals, which has dominated environmental headlines from coast to coast for more than a year. With a dual mandate to conduct effective, protective cleanups and sell its properties for beneficial reuse, RACER cannot afford to sit on the sideline. Neither can any other brownfield owner. This panel will illustrate how RACER and the Michigan Department of Environment, Great Lakes & Energy are collaborating to identify and resolve challenges related to PFAS and other emerging contaminants, a blueprint for how regulated entities can work with lead agencies to position brownfield properties such that they may achieve their highest and best use potential while protecting human health and the environment both now and over the long term.
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