For Immediate Release – August 25, 2004

 

ELM ACQUIRED THE ENVIRONMENTAL LIABILITY ASSOCIATED WITH O’BRIEN FIELD FROM THE CITY OF PEORIA FOR A LUMP SUM PROVIDING THE CITY INDEMNIFICATION FOR ANY COSTS OVER THE LUMP SUM AMOUNT.

 

Peoria, Illinois.  ELM, a provider of comprehensive environmental consulting services, has managed the environmental liability transfer of a Peoria, Illinois dry cleaning facility to ELM Investments. 

 

In this case, solvent contamination was detected during environmental assessments for the property transfer at the dry-cleaning facility  to O’Brien Field. Cost estimates for corrective actions from various consultants ranged from $100,000 to $350, 000. This level of cost could have caused the project to be terminated. ELM acquired the environmental liability associated with the site from the City of Peoria for a lump sum providing the City indemnification for any costs over the lump sum amount. The City requested the project be expedited to clear the way for a construction of  a new baseball stadium on the property.

 

ELM conducted a site investigation and risk assessment under the Illinois Site Remediation (Voluntary) Program.  A No Further Remediation (NFR) letter was obtained within two months within the lump sum amount and on schedule to enable the project to move forward successfully.  The NFR was based on ELM’s documentation that potential exposure pathways to residual contaminants could be eliminated through use of pathways to residual contaminants could be eliminated through use of Environmental Land Use Controls (ELUCs). The ELUCs included incorporation of the intended commercial land use as a deed restriction, and reliance upon an existing City Ordinance prohibiting the use of groundwater for potable consumption.  This conclusion allowed the City to transfer the property and allow the project to move forward.