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Proceedings-Sustainable Property Transactions: Retooling the Business of Contaminated Site Redevelopments.”
[April 20, 2010 - November 10, 2010]
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Sheraton Society Hill Hotel One Dock Street 2nd and Walnut Streets) Philadelphia , PA
19106, USA
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DAY ONE – APRIL 14, 2010
7:30 - 8:15 Registration and Continental Breakfast
8:15 - 8:30 Conference Overview and Objectives
Dean Jeffery Telego, Conference Chairman & President, Risk Management Technologies, Inc. & RTM Communications, Inc.
8:30 – 9:00 Sustainable Design and Reuse of Corporate Brownfield Properties
· Corporate owner role in supporting the cleanup and transfer of industrial property
· Key elements to partnering with industry on brownfield sites
· Role of sustainable development and creative deal structuring for corporations and communities
· Positive results of sustainable design and construction
· Challenges and opportunities of divesting distressed assets
Evan van Hook, Corporate Vice President, Health, Safety, Environment & Remediation, Honeywell Corporation
9:00 – 9:45 Challenges and Strategies Facing Public/Private Financing of Contaminated Property
· Transactions in a Downturned Economy—A National Perspective
· Public-Private redevelopment climate and brownfield reauthorization
· Opportunities from America Recovery & Reinvestment Act for the brownfield market
· Update on the Brownfields Legislative Agenda/Coalition
· Energy efficiency tax incentives and rehab tax credits
Charles Bartsch, Vice President, ICF International
9:45 – 10:15 State of Real Estate Industry, Capital Markets and Due Diligence Trends
· Credit crunch, current business environment and economic market metrics
· Commercial real estate market fundamentals and trends
· Latest trends in commercial real estate lending and loan losses/distressed asset deals
· Web-based tools to fundamentally change the way contaminated property is managed
· Changing standards to underwriting collateral risk/environmental business risk
Dianne Crocker, Managing Director, Market Research, EDR, Inc.
10:15 - 10:30 BREAK Refreshments Courtesy of TRC Companies, Inc.
A chance to network and review exhibits
10:30 -11:00 Sustainable Property Transactions and Redevelopments in the Current Economy
· Emerging transactional and real estate trends in the brownfield redevelopment market
· Engaging in alternative deal structures and public/private partnerships
· Restructuring the deal, acquisition criteria and due diligence
· Property evaluation, pre-development options, site planning, entitlement scheduling
· Accounting for sustainable and LEED certifications during the redevelopment life cycle
Stuart Miner, Co-Founder, Brownfield Partners, LLC
11:00 – 11:30 Sustainable Development Approaches that Work in a Restricted Funding Environment
· Bellmawr Waterfront Redevelopment and Roebling site redevelopment case studies
· Sustainable materials reuse and end use drivers for the remediation
· Sustainable brownfield regeneration, smart growth and in depth public participations
Charles Gallub, President, DEVELCOM
11:30 – 12:00 Commercial Redevelopment in an Era of Green Building
· Performance and Sustainable Development
· Building energy performance and green building and green building due diligence
· Paradigm shift – institutional/engineering controls on commercial real estate through project specific district fees or tax assessments
· Climate change risk and the metrics and tools of environmental due diligence
· Overlapping and intersecting issues involving environment, land use and “green building”/sustainable development
· State and local green building laws/codes, mandatory disclosure and energy conservation
· Regulatory tax incentives to support green retrofits
Amy L. Edwards, Partner, Holland & Knight LLP
LUNCHEON Hosted by Dechert, LLP, EnviroFinance Group, BNA Environmental Due Diligence Guide and Environmental Liability Transfer, Inc.
12:00 - 1:30 Climate Change and EPA Clean Air Act Regulatory Picture and the Effect on Industrial Development
Abbi Cohen, Partner, Dechert, LLP
1:30 – 2:00 Sustainable Development Approaches to Designing Lower Energy Demand Buildings
· High performance building science design techniques and systems to reduce energy use
· Using mass wall-building enclosure and energy recovery ventilation
· Implementing alternative energy and combining systems for 80% energy savings
· Case Study—Van Leer Chocolate Factory in Jersey City, NJ—holistic approach
George Vallone, President, Hoboken Brownstone Company
2:00 – 3:00 Distressed Asset Deals and Environmental Risk Management Strategies for Getting the Best Value
· Seller and buyer perspective on up-front deal analysis
· New Diligence tools and site considerations
· Transaction structure and liability management from seller perspective
· Liability management and structure alternatives
· Underlying considerations and financial assurance
Jon S. Brooks, Partner, Phillips Nizer, LLP
Julie Kilgore, Principal, Wasatch Environmental, Inc
David Mueller, Senior Managing Attorney,CNH American LLC
Jon Walker, Vice President, Environmental Data Resources, Inc.
Randall Jostes, CEO and President, Environmental Liability Transfer, Inc.
Tom Kosonen, Managing Director, CB Richard Ellis
Richard Hawkinberry, Senior Vice President,Willis Environmental Practice (Moderator)
3:00 – 3:15 BREAK Refreshments Courtesy of ELT, Inc. and BNA-EDDG
A chance to network and review exhibits
3:15 – 3:45 EPA Enforcement Priorities Influencing Brownfield Transactions and Redevelopments
· EPA’s revised procedure for RD/RA negotiated settlements
· Measuring the effectiveness of EPA’s national and regional enforcement initiatives
· Tracking post-construction completion activities, financial assurance and SEPs
· ER3 Initiative’s redevelopment impacts, benefits of sustainable design/remediation
· Addressing long-term stewardship issues at hazardous waste sites
Marcia Mulkey, Regional Counsel, Region 3, U.S. EPA
3:45 – 5:00 The Intersection of Bankruptcy Law with Environmental Claims
· Elements of Bankruptcy Code Utilizing Chapter 11
· Government regulators perspective on what happens to environmental protection obligations/financial assurance
· Managing environmental exposures for bankruptcy receivers
· Debtor and lender perspectives in recent cases involving chemical and mining companies
· Perspective of ASARCO, the largest environmental bankruptcy in U.S. history
· Transferring legacy liabilities to spin-off companies, role of environmental insurance
· Issues of successor liability and Section 363 sales
· Rejection of leases and abandonment issues imposed on trustees
Joel M. Gross, Partner, Arnold & Porter, LLP and former Chief of Environmental Enforcement Section, Department of Justice
Tony M. Davis, Partner, Baker Botts, LLP and ASARCO, LLC, Bankruptcy Counsel
Lawrence Schnapf, Principal, Law Offices of Lawrence Schnapf
5:00 – 5:30 Due Diligence and Valuation of Environmentally Impaired Real Estate Assets
· Environmental liability acquisition and redevelopment of contaminated corporate real property
· Holistic approach to evaluating property condition, transaction structure and liability issues
· Integrating acquisition, remediation, redevelopment and sale leaseback on acquisitions
· Drafting underlying remediation contracts and maximizing balance sheet tax benefits
· Guaranteed fixed price remediation and liability transfer programs Case Study—ASARCO Perth Amboy Model
Randall Jostes, CEO and President, Environmental Liability Transfer, Inc.
5:30 - 7:00 RECEPTION Hosted by Environmental Data Resources, Inc. (EDR) and Willis Environmental Practice
DAY TWO – APRIL 15, 2010
8:30 – 9:00 Redevelopment of Brownfields in Inner City (Allison Hill), A Neighborhood Vision
· Public financing for former automotive property to facilitate assessment, demolition and redevelopment
· Bridging health care facilities with brownfield redevelopment
· Project to incorporate renewable energy to reduce long-term O&M costs and GHG emissions
Denise M. Brinley, Deputy Secretary, Office of Community Revitalization & Local Government Support, Pennsylvania Department of Environmental Protection
9:00 – 10:00 State and Local Government Perspectives on Sustainable Brownfield Site Cleanups
· New York City Significant Green Property Certification Regulations
· New York City local Brownfield Cleanup program
· Reformation of New Jersey DEP Brownfield Cleanup Program
· Pennsylvania’s Voluntary Cleanup Program
· Financial incentives and sustainable development/smart growth/energy efficiency programs
Daniel C. Walsh, Director, Office of Environmental Remediation, New York City
Irene Kropp, Assistant Commissioner, New Jersey Department of Environmental Protection
Troy Conrad, Director, PA Department of Environmental Protection
Lawrence Schnapf, Principal, Law Offices of Lawrence Schnapf (Moderator)
10:00 - 10:15 BREAK Refreshments Courtesy of OTEK P/L
A chance to network and review exhibits
10:15 – 11:15 The Summit on Licensed Site Remediation Professional Program (LSRP)
· Overview of New Jersey’s Site Remediation and Reform Act and its legal framework
· Transforming state remediation in the program and business perspective
· Legal perspectives on NJ LSRP and misconceptions about the program
Nicholas DeRose, Senior Principal, Langan Engineering & Environmental Services
Jorge H. Berkowitz, Senior Associate, Langan Engineering & Environmental Services
Irene Kropp, Assistant Commissioner, New Jersey Department of Environmental Protection
11:15 – 12:15 Integrating Sustainable Design and Remediation
· Principles, Practices and Metrics into Site Cleanup Projects
· Incorporating sustainable design into remediation projects
· Incorporating sustainability concepts and indicators in remedial decision making activities
· Using sustainability assessment tools to measure environmental footprint, resource consumption and occupational risk
· Case studies demonstrating sustainable designs incorporating efficiency, maintainability and value through LEED, certifiable designs, performance contracting, life cycle cost analysis, energy audits, etc.
· Sustainable Remediation Forum (SURF)—process, direction and white paper
· Differentiating green remediation and sustainable remediation practices
David E. Ellis, Principal Consultant, DuPont Engineering, Corporate Remediation Group
Debra Goldblum, RCRA Revitalization Coordinator, U.S. EPA, Region 3
William Hyatt, Partner, K&L Gates, LLP
LUNCHEON Hosted by CETCO, TRC Companies, Langan Engineering & Environmental Services, Inc.
12:15 - 1:45 How Recent Supreme Court Decisions and EPA Enforcement Policies are Impacting Litigation and Settlement Strategies and Cleanups
Karl Bourdeau, Principal, Beveridge & Diamond, P.C.
1:45 – 2:15 Transforming Distressed Assets to Market Opportunities
· Integrating Liability Transfer and Transaction Strategies with Green Uses and Technologies
· Exit Strategy Program solutions that expedite sustainable redevelopment
· Blending fixed price remediation and liability transfer mechanisms for complex utility projects
Cynthia Retallick, Senior Vice President, TRC Companies, Inc.
2:15 – 3:00 Economic Revitalization of Former Schlage Lock Factory and Southern Pacific Railroad Site
· Evolution of Visitaçion Valley Project, a mixed use urban community from a former brownfield site
· Effective public participation plan, remedial action plan, demolition and site cleanup
· Creative use of manuscripted environmental insurance products
· Constructing public/private financing entitlements and sustainable redevelopment plan
Stuart Miner, Co-Founder, Brownfield Partners, LLC
Curtis Toll, Shareholder, Greenberg Traurig, LLP
3:00 – 3:15 BREAK Refreshments Courtesy of BNA-EDDG
A chance to network and review exhibits
3:15 – 3:45 Tackling the Distressed Asset Market with Environmental Insurance Tools and Techniques
· Environmental insurance market summary and new product development
· New versions of combined forms for new risk (i.e., Carbon Capture and Sequestration Liability)
· Environmental insurance for distressed assets in workouts, foreclosures and bankruptcies
· Green building insurance and other sustainable development insurance coveages
Richard Sheldon, Senior Vice President, Atlantic Region, Willis Environmental Practice
3:45 – 4:15 Lender Perspectives on the Foreclosure of Contaminated Property
· Pre-foreclosure due diligence of distressed assets
· Lender liability, environmental and regulatory issues
· Foreclosure-bankruptcy, title, and receivership challenges
· Post foreclosure-resources, budget, liability, and entitlement issues
· Exit strategies and timing
Craig Carbrey, President & CEO, EnviroFinance Group
4:15 – 4:45 Developing a Sustainability Baseline Program on an International Scale
· Addressing and implementing the green cleanup in environmental remediation projects
· Landfill gas to energy and GHG reduction for global corporations
· Large-scale renewable energy, developing the metrics for evaluating the sustainability
Fred Taylor, Vice President, Conestoga-Rovers & Associates
4:45 – 5:15 Emerging Brownfield Trends Affecting Real Estate Development
· Universe of unreported and unaddressed UST sites present at vacant sites is unknown
· Identifying the full extent of abandoned gas stations and impact on redevelopment
· Public brownfield funding and the economic and environmental issues
· Case Study—Impacts of former gas stations on Trenton and Plainfield, NJ
Leah Benedict Yasenchak, Principal . Brownfield Development Solutions, Inc.
DAY THREE – APRIL 16, 2010
SESSION IN FOCUS
VAPOR INTRUSION AFFECTING SITE REMEDIATION AND REDEVELOPEMENT PROJECTS
All types of sites can be affected by vapor intrusion (VI), especially those that have petroleum or solvent related contamination. Brownfield sites and distressed assets are logical candidates for VI based on their history of former commercial and industrial use affecting soils and ground water. Whether you are an environmental professional, prospective buyer/developer, seller, site owner, lender or insurer, virtually all stakeholders in a real property transaction can be adversely affected by vapor intrusion problems. With most state voluntary cleanup programs using risk-based cleanup standards and institutional controls, it is important that responsible parties and their consultants involved in site investigation, cleanup and redevelopment consider vapor intrusion pathways. One of the challenges to the use of risk-based cleanups and institutional controls is vapor intrusion reopening once – closed sites. So how widespread is the vapor intrusion exposure and are Phase I consultants using the new ASTM E 2600 standard? Does the ASTM 2600 guide undermine the ASTM Phase I E 1527-05 standard? Does the ASTM VI guide establish vapor mitigation determinations based on presumptions?
This vapor intrusion session in focus will address these questions and cover the following: 1) policy and legal implications of the ASTM guide to CERCLA due diligence and continuing obligations; 2) USEPA guidance and industry standards and practices such as the ASTM guidance for vapor encroachment concerns in real estate transactions; 3) the tiers for screening site conditions; 4) the effective use of environmental due diligence and remedial alternatives against sites contaminated by chlorinated VOCs and the mitigation systems/barriers currently in use; and 5) case law and recent litigation affecting buyers, sellers and environmental consultants performing the investigations and site cleanups.
8:30 – 9:00 Vapor Intrusion (VI)—a Regulatory Update of Current Activities
· USEPA Vapor Intrusion Guidance
· Overview of federal and state guidance and regulatory developments
· Policy issues associated with ASTM E2600-08 and E1527 Phase I ESA and its CERCLA and AAI requirements as applicable to vapor migration
Henry Schuver, Ph.D., RCRA Corrective Action Office, U.S. EPA
9:00 – 10:00 The Applicability of ASTM Vapor Encroachment Guidance in Real Estate Transactions
· Screening method not part of the environmental site assessment process
· Developing a sound and defensible technical guide
· Multi-tier protocol for screening potential for VI exposure
· What are the continuing obligations if a Phase II is requested after a REC has been determined for a VEC?
· What are policy and legal implications?
Laurence S. Kirsch, Partner, Goodwin Procter, LLP
Lawrence Schnapf, Principal, Law Offices of Lawrence Schnapf
Edward L. Strohbehn, Jr., Partner, Bingham McCutchen, LLP
Dean Jeffery Telego, Executive Co-Director, Environmental Bankers Association
10:00 -10:15 BREAK Refreshments Courtesy of Risk Management Technologies, Inc., and CETCO
10:30 – 11:30 Screening, Evaluating, Remediating and Restoring Sites Affected by Vapor Intrusion
· Accounting for the environmental factors, mitigation systems
· Site-specific modeling to screen out certain site conditions
· Risk-based screening methods for indoor chemical vapors
· Designing site investigations and remedial alternatives
· Application of advanced techniques using risk-based targets
· Using the One-Touchpm for vapor intrusion sites
· Case Study focusing on environmental due diligence/remedial alternatives and closure strategies for sites contaminated by chlorinated volatile organic compounds
Diana Y. Marquez, Associate Toxicologist, Burns & McDonnell
Colleen Costello, Principal, Langan Engineering & Environmental Services, Inc.
11:30 – 12:00 Use of a Gas Vapor Barrier to Mitigate Subsurface Vapor Intrusion
· Gas vapor barrier working with passive or active venting system
· Types of gas vapor membranes, spray-applied or sheet-applied
· Implementing engineered remedial and mitigation barriers, sediment and soil capping soil solidification and stabilization to meet federal, state or local standards
· Case studies of applicable remediation technologies
Jeff Belote, Technical Sales Manager , CETCO
11:45 – 12:00 Conference Summation
Dean Jeffery Telego, President, Risk Management Technologies, Inc.
Irene Kropp
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