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ELT Announces Plans to Sell Retired
Coal Power Plant to Major Inland Port Operator
Environmental Liability Transfer, Inc. (ELT) has agreed to sell the retired Tanners Creek Power Plant to the Ports of Indiana (POI), a major inland port operator, who will now explore the viability of building a large-scale port along the Ohio River.
In October 2016, ELT and Commercial Development Company, Inc. (CDC) acquired the retired 1000 MW coal-fired power plant from Indiana Michigan Power (I&M) - purchasing real estate assets and assuming environmental liabilities. Since that time, ELT and affiliates have been engaged in environmental remediation and demolition activities designed to prepare the site for new development.
"Our mission is to create positive outcomes for our clients and the communities and stakeholders that are touched by our projects and companies," said Randall Jostes, CEO of ELT. "I&M went to great lengths during its selection process to ensure that effective repositioning and redevelopment would occur. We are elated that the Ports of Indiana has selected this site and are hopeful for a successful outcome."
Indiana Governor Eric J. Holcomb officially announced this agreement in a press release. "While we're only beginning this process, it's hard not to be excited by the prospect of a fourth port in Indiana. The economic benefits to the region and the state as a whole would be game changing - providing new jobs and development opportunities."
Proactive Approach to Brownfields
ELT's strategy is not to sit on a distressed asset and wait on market factors to resell. After acquiring a brownfield, ELT immediately enters the site into a comprehensive environmental cleanup program designed to repurpose the site for new sustainable reuse.
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In this Newsletter
ELT Announces Plans to Sell Retired Coal-Fired Power Plant
Demolition Milestone Prepares NJ Brownfield for $100MM Development
Fall 2017 Conference Calendar
Seeking to Acquire Assets & Assume Liabilities
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Currently Seeking to Assume Environmental Liabilities and/or Purchase Retired Assets in All Industrial & Energy Sectors.
If environmental liabilities are impacting your operations, transactions, or balance sheet, please contact us for a no-cost site assessment and value proposition.
Phone: 314-835-2813
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Environmental Liability Transfers
Brownfield Real Estate Purchase
Liability Transfer + RE Purchase
Guaranteed Cost Certainty
Corporate Indemnification
Maximum Value For Retired Assets
Sustainable Redevelopment Planning
Preservation of Legacy & Brand
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ELT Prepares NJ Brownfield for $100 Million Development Project
Last month kicked off the final stage of demolition at one of the largest brownfield sites in New Jersey - ELT is preparing the site for a $100 million project to be developed by Bridge Development LLC.
The retired Asarco smelting facility in Perth Amboy, NJ was purchased by ELT in 2009, a transaction that included the assumption of environmental liabilities and regulatory closure obligations. Since that time, ELT has engaged in various remediation projects, including:
- Demolished 13 buildings
- Removed 14,000 shipping containers
- Raising the site to post-Sandy flood elevations
- Rebuilding a cell tower
- Relocating 22 tenants
- Remediated 80 years of environmental residue from ASARCO's metal smelting business
For more on the brownfield transformation happening in Perth Amboy, watch the redevelopment video or contact us to learn more.
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Perth Amboy Mayor Wilda Diaz Kicks off Demolition
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Upcoming Conferences & Industry Events
Our teams will be participating at the following conferences & events this year. If you will be attending any of these events, please let us know so we can connect!
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Section of Environment, Energy, and Resources
October 18-21, 2017
Baltimore, MD
Society of Industrial and Office Realtors
Chicago, IL
October 26-28, 2017
October 23-25, 2017
Denver, CO
November 1-3, 2017
Philadelphia, PA
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December 5-7, 2017
Pittsburgh, PA
EUCI
January 2018
Cincinnati, OH
March 19-22, 2018
Pittsburgh, PA
EUEC
Mar 5-7, 2018
San Diego
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About Our Group
Commercial Development Company, Inc. (CDC), Environmental Liability Transfer, Inc. (ELT), and EnviroAnalytics Group LLC (EAG) comprise one of North America's most impactful brownfield redevelopment and environmental remediation and consulting firms. Our focus is finding win-win solutions to environmentally-impacted real estate and helping clients navigate the complexities of environmental liabilities within the areas of real estate development, environmental liability transfers, sustainable redevelopment planning, risk management, and environmental remediation.
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Acquire & Develop Real Estate
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Transfer Environmental Liabilities
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Environmental Remediation
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Contact Us
For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities, please contact us.
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