Superfund Site Remediation and Redevelopment
Project Specs
- Commercial and Recreational Waterfront
- Environmental Liability Transfer
- Transaction Structure Assures Compliance to Consent Decree
- Owner-Contractor Contract Incentives
- Broad-based Insurance Program for Protection from Unknown Pollutants
Project Approach
Members of the DECARB team implemented an environmental liability transfer strategy to facilitate the redevelopment of the Sheboygan Harbor Superfund Site, which had a longstanding PCB sediment contamination problem leading into Green Bay, Wisconsin.
The transaction structure enabled the client to negotiate the liability transfer with a third-party contractor that was backstopped by a “work substitution” Consent Decree, making the contractor the primarily liable party for work performance.
Although the responsible party was only liable for work obligations after an uncured default by the contractor, it retained full transparency and the right to object to payments made from the remediation fund.
A broad pollution insurance program was provided to backstop the assumed obligations, cleanup of any unknown pollution conditions encountered and any third-party bodily injury and property damage claims.
