ELM Completes Environmental Closure in Kenosha, WI.

1/17/2012 12:44:51 PM

ELM Investments received a “No Further Action” determination in December 2011 from the Wisconsin Department of Natural Resources for the Former MacWhyte Wire Rope Manufacturing property in Kenosha, Wisconsin. ELM executed a liability transfer agreement with Amsted Industries (the owner of MacWhyte) and the city of Kenosha in 2004 that provided a fixed-fee to clear the 27-acre site of its buildings and mitigate extensive environmental contamination. The “No Further Action” determination has allowed the city of Kenosha to redevelop the brownfield property.

Site redevelopment is underway with the completion of a remote secure parking facility for a local institution of higher education and construction of recreational fields for public use by the city of Kenosha.