ELT Assumes Environmental Liabilities at Two California Superfund Sites

ELT has announced the acquisition of and assumption of environmental liabilities at two (2) EPA Superfund sites located in California. The transactions involved the stock purchase of Valley Wood Preserving, Inc. ("VWP") and Coast Wood Preserving, Inc. ("CWP") located in the cities of Turlock and Ukiah.
"This is a significant transaction because it highlights the feasibility of the EPA Superfund Task Force goals to encourage private investment through the environmental liability transfer process for the benefit of quicker cleanups and redevelopment of sites-that are often on the NPL for decades." said Colleen Kokas, ELT Executive Vice President. Ms. Kokas is a former 30-year state environmental regulator and was recently named 2017 Brownfield Person of the Year.
The EPA added both of these wood processing sites to the National Priorities List (NPL) during the late 1980's and mid 1990's and ultimately entered into consent decrees for the cleanup with the polluting parties. Companies affiliated with ELT acquired 100% of all outstanding stock of VWP and CWP. The "new" VWP and the "new" "CWP then entered into Consent Decrees with regulatory agencies to become the Responsible Parties at the respective sites. Under this framework, the regulatory agencies agreed to stop pursuing the former stockholders of VWP and CWP who have thereby been relieved of Responsible Party status.
CDC will now work to reposition the sites for new development. At 13 and 8 acres respectively, the Turlock and Ukiah Superfund sites both have favorable development attributes that CDC believes will attract new industrial users. The sites are each located within active industrial parks, have quick access to major transportation channels, and have access to a strong local workforce.
"We are very pleased the EPA and associated agencies have permitted the transfer of environmental liability at these Superfund sites to ELT," said Tim Smith, Senior Vice President of ELT. "We will now move forward with an expeditious and responsible cleanup plan designed to return these sites back to productive reuse. We expect new job creation and new local tax revenue as a result."  

September 2018 

ELT/CDC Purchase Two California Superfund Sites

National Brownfields Leadership Summit

3-Day Auction Planned for Retired Brayton Point Power Plant

Seeking to Assume Environmental Liabilities
and/or Purchase Brownfield Real Estate

Past Newsletters

Currently Seeking to Purchase Real Estate Assets and/or Assume Environmental Liabilities

If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a confidential discussion.  ELT's core offering includes:
  • Environmental Liability Transfers
  • Brownfield Real Estate Purchase
  • Liability Transfer + RE Purchase
  • Guaranteed Cost Certainty
  • Corporate Indemnification
  • Maximum Value for Retired Assets
  • Transfer of Regulatory Obligations
  • Transfer of Post-Closure Obligations
  • Sustainable Redevelopment Planning
  • Preservation of Legacy & Brand

Phone: 314-835-2813
Email: sales@cdcco.com

National Brownfields Leadership Summit

ELT will be sponsoring the National Brownfields Leadership Summit later this month in Washington DC. This event brings together top leaders from the redevelopment industry with key decision makers in Washington DC. 

If you are planning to attend, please let us know ahead of time so we can find a time to connect. 

Washington DC
September 25-26, 2018

Surplus Equipment & Machinery to be Sold from the former Brayton Point Power Station

A 3-day auction event featuring surplus equipment and machinery from the former 1600-MW Brayton Point Power Station will be held on September 18-20, 2018.
  • Once largest fossil-fueled power plant in New England
  • Onsite & online auction
  • Certified riggers on site for removal
  • Full asset catalog available upon request

Auction to be managed and conducted by Southcoast Auctions & Realty Inc. / MA Lic. #662

For more information please contact Industrial Asset Recovery Group: 

Neil Kruel
Phone: 314-835-2825

About Our Group

Commercial Development Company, Inc. (CDC), Environmental Liability Transfer, Inc. (ELT), EnviroAnalytics Group LLC (EAG), Industrial Demolition LLC, and Industrial Recovery LLC 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, asset recovery, and environmental remediation. 

Contact Us

For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities, please contact us. 

Phone: (314) 835-2813
Email:  sales@cdcco.com