Corporate sellers need a high level of confidence that any transferred environmental risk does not come back to them.
Likewise, it is important not to pass along continuing environmental obligations to post-redevelopment buyers.
Viridian believes Brownfield development requires equal parts real estate, remediation, and environmental risk management expertise.
The Viridian team works with a highly qualified set of environmental attorneys, engineers, and insurance experts to ensure that site remediation work is fully completed to the benefit of all parties.
Viridian engineers a state-of-the-art environmental risk management and liability transfer template that assures multiple layers of protection.
This starts with a thorough identification of site contamination and working with the environmental regulatory agency to create a plan for remediation.
Remediation and sitework are completed concurrently to eliminate outstanding issues.
Clean-up and infrastructure contractors are required to guarantee the achievement of critical performance milestones such as obtaining a “no further action” status for the site.
Viridian assumes the remedial obligation of the Seller and other potentially responsible parties (PRPs) through a remediation agreement with the environmental agency.
Pollution Legal Liability (PLL) environmental insurance is obtained for both known and unknown conditions, benefiting all parties.
Our indemnification to Seller is backed by financial assurance tailored to the needs of each property. A “No Further Action” letter, or equivalent, is obtained.
PLL insurance is bound with premiums paid in full. Deed restrictions are placed on title, and any long-term stewardship obligations are capitalized in the project budget.
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Viridian embraces a unique philosophy that Brownfield development requires equal parts real estate, remediation and environmental risk management expertise.
Our in-house professionals working in partnership with a highly qualified set of environmental attorneys, engineers and insurance experts are best suited to ensure that site remediation work is fully completed to the benefit of all parties.
Viridian goal is the elimination of health, safety and environmental risks associated with the adverse
footprint left by formerly contaminated industrial land.
As we conduct this business, Viridian is
committed to protecting the health and safety of everybody who plays a part in our operations and lives in the communities in which we operate.
Through implementation of this policy, Viridian seeks to earn the public’s trust and to be recognized
as the leader in health, safety and environmental performance in the Brownfield revitalization business.
