New California Law Promises Limited Liability for Developers.
Attorneys Malcolm C. Weiss and Tim Martin of the Government, Land Use, Environment & Energy Department at Jeffer Mangles Butler & Marmaro LLP (JMBM), contributed the enclosed article.
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In September 2004, Assembly Bill 389 was signed into law by Gov. Schwarzenegger. Known as the California Land Reuse and Revitalization Act (Act), it became effective Jan. 1, 2005. The Act provides immunity from regulatory agency and third party liability to qualified purchasers of contaminated properties. The Act applies broadly to many environmentally impaired properties. According to the U.S. Environmental Protection Agency (EPA), it is estimated that more than 450,000 “brownfields” exist in the United States. The Act provides eligible purchasers with substantial assurances that will allow them to make successful investments in environmentally impaired properties.
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For more information on the California Land Reuse and Revitalization Act and related issues, please contact Malcolm C. Weiss, Esq. at 310.712.6822, mweiss@jmbm.com. |
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