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EDC debates requiring Phase I environmental studies and appraisals for future land purchases
Summary
Board members discussed a proposed policy to require Phase I (and if needed Phase II) environmental site assessments and independent appraisals for properties previously used for commercial or industrial purposes; members debated who should pay and whether waivers should be permitted, and staff will return a written policy for a future vote.
A board member proposed that the EDC adopt a formal due-diligence policy requiring a Phase I environmental site assessment (ASTM standard) for future acquisitions of property previously used for commercial or industrial purposes, with Phase II testing if concerns arise, and an independent appraisal in the packet before a public vote.
The motion’s sponsor argued the measures are prudent insurance and due diligence…
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