BUYING BROWNFIELDS: Opportunity or Risk?

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Description: Obtaining a Prospective Purchaser Agreement (PPA), available in virtually every state, can expedite the process. PPAs serve as a voluntary cleanup program that the buyer enters into with an environmental regulatory agency to remediate a contaminated site for the purpose of redevelopment. This important piece of paperwork protects the purchaser from environmental liability for the cleanup of a property in exchange for the public benefit provided by returning an underutilized brownfield to productive use.
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