XML FeedsComparing contaminated property redevelopment for mandatory and Voluntary Cleanup Programs in California
By CostBenefit on Oct 23, 2009 | In Contaminated Properties, Real Estate Construction Housing, Academic Study/Journal Article, Brownfield Redevelopment, California, Costs and Benefits | Send feedback »
Link: http://dx.doi.org/10.1016/j.jenvman.2009.02.018
Abstract: This study uses California data to compare redevelopment for properties subject to mandatory and voluntary cleanup. CalSites are subject to the CERCLA liability approach, while properties in the Voluntary Cleanup Program (VCP) are subject to a risk-based approach (RBA) that allows some contamination to remain for non-residential redevelopment. The expectation is that VCPs will show a greater proportion of industrial redevelopment, which has the least stringent standard, and a smaller proportion of residential redevelopment. The results show an overall trend toward more residential redevelopment of contaminated properties, but consistent with expectations, the trend is weaker for VCP properties than CalSites.
by Peter M. Schwarz 1 and 2, Craig A. Depken II 1, Alex Hanning 1 and 3, and Kristen Peterson 4 and 5
1. Department of Economics, Belk College of Business, University of North Carolina at Charlotte, Charlotte, NC 28223-0001, USA
2. Global Institute of Energy and Environmental Systems, UNC Charlotte, Charlotte, NC, USA
3. Department of Finance, Lewis Hall, University of Washington, Seattle, WA 98195, USA
4. Belk College of Business, University of North Carolina at Charlotte, Charlotte, NC, USA
5. 637 Williamson Rd. # 202, Mooresville, NC 28117, USA
Journal of Environmental Management via Elsevier Science Direct www.ScienceDirect.com
Volume 90, Issue 12; September, 2009; Pages 3730-3735
Special Issue: Sustainability of Industrial and Environmental Systems
