Archive for 2008/04/26

New York Brownfields Law Update: Denial of eligibility decisions mostly upheld

In 2003, the New York Legislature passed the Brownfield Cleanup Program, ECL § 27-1401 et seq.  The benefits of the Brownfield Cleanup Program (“BCP”) are many:  the developer receives a liability release from the State following DEC oversight during the cleanup of the property. The most coveted benefit, however, is a tax credit of up […]

Posted By: James J. Periconi | 2008/04/26 | 5. Real Estate & Environmental Law |

Borrower’s Covenants

Post–closing covenants will be required for a borrower in a loan transaction, or a tenant in a lease transaction.
1.         Borrower will be required to comply [in all material respects] with Environmental Requirements, to notify lender promptly in writing after knowledge in the event of any release which violates any applicable Environmental Requirement, of any Adverse […]

Posted By: James J. Periconi | 2008/04/26 | 1. Environmental Law |