Risk Management Considerations in Redeveloping a Property that was Contaminated: A Brownfields Case Study

by Michael Long

and

Management of Brownfield Sites: Programming Issues,Regulatory and Risk Considerations

by Catherine Finneran

Wednesday, 14 April 2004
4:05-4:30 PM Social gathering, light snacks
4:30–6:30 PM Program

Conference Room, CDM
One Cambridge Place, 50 Hampshire Street,
Cambridge, MA

RSVP Required to Korin Scheible at CDM, ScheibleKA@cdm.com by noon the day of the meeting to facilitate security sign in.

Risk Management Considerations in Redeveloping a Property that was Contaminated: A Brownfields Case Study

Michael Long
Vice President, Willis Environmental Practice
Willis North America
Boston, MA

Summary: Today, redeveloping property where there is known or suspected chemical contamination is a common occurrence despite the risks involved. Such an activity is commonly referred to as Brownfields redevelopment. The risks that one developer faced when rehabilitating an old mill property included site cleanup and restoration risk, toxic tort and diminution in value risks. Through the use of a combination of environmental engineering and environmental insurance the developer was able to either control or eliminate the risks and as a result an old mill building became reusable for housing and commercial purposes. My presentation is a case study that details the risks and risk mitigation measures taken.

Biography: Michael Long works with clients on both a local and national level to analyze environmental risks and to optimize insurance coverages to cover those risks at the lowest overall cost. As manager of the Willis Regional Environmental Practice Manager in the New England Region, Michael has 25 years’ experience in the hazardous waste and wastewater treatment sectors of the environmental industry. He has extensive experience in the areas of site cleanup, hazardous waste storage and disposal, environmental regulation and insurance.

Prior to joining Willis, Mike worked in a variety of positions for companies such as Perini Corporation, ABB Environmental as well as for the Commonwealth of Massachusetts. Among his accomplishments are the following:

• Analyzed environmental risks of company operations, mergers and acquisitions and real estate transactions.
• Negotiated complex coverage terms and conditions for numerous large environmental liability insurance programs for corporations, lenders, real estate developers and sellers of contaminated property.
• Designed Project Risk Analysis Program for major site remediation contractor.
• Advised numerous industrial clients on hazardous waste storage, disposal and recycling options and environmental regulatory requirements.
• Conducted numerous reviews of contractual and process risks for a hazardous waste remediation firm and an environmental engineering firm.

Michael received his BA from the University of California, Berkeley, and has a Masters Degree from the John F. Kennedy School of Government, at Harvard University.

Management of Brownfield Sites: Programming Issues, Regulatory and Risk Considerations

Catherine Finneran
Brownfields Coordinator
Massachusetts Department of Environmental Protection
Boston, MA.

Summary: The Brownfields Initiative has proved to be a successful but challenging program for encouraging clean up and economic development of contaminated real estate. Catherine Finneran, who coordinates implementation of the State program, will discuss current status of both State and federal Brownfields programs, with particular emphasis on the Massachusetts Waste Site Cleanup Program, and incentives created through the 1998 Brownfields Act. Successes of the program and case studies will also be described.

Biography: Catherine Finneran is the Brownfields Coordinator, Massachusetts Department of Environmental Protection, Boston, MA. Catherine has been working in the land-use, planning and environmental fields for over 10 years. She worked as grant writer for two Massachusetts municipalities, and served as the Acting Director for a non-profit Community Development Corporation. Catherine currently serves as Brownfields Coordinator for the Massachusetts Department of Environmental Protection, promoting the cleanup and redevelopment of contaminated property using state and federal incentives.