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Superfund at Work
Developer to clean up Superfund site
The U.S. Environmental Protection Agency will mark the signing of the first-ever agreement in the nation by a developer to clean up a Superfund site on Thursday at a ceremony in Houston.
“This ground-breaking agreement shows the innovative solutions that are possible when government and industry work together to achieve a shared goal,” EPA Regional Administrator Richard E. Greene said. “We are clearing the way for redevelopment and saving millions of taxpayer dollars in the process.”
The MDI site was once the location of a metal casting foundry. Former property owner, MDI, filed for bankruptcy in 1994. The site was added to the Superfund National Priorities List in 1999. EPA spent $4.4 million to clean up about 60 nearby residential properties contaminated from activities at the site.
Under the agreement, the buyer guarantees that it has sufficient funds to complete the cleanup and agrees pay for EPA's oversight costs to make sure the work is being done properly. It also provides protections for both the buyer performing the cleanup and future buyers who purchase portions of the property. Clinton Gregg Investments purchased the property for $7.8 million.
Learn more about the MDI site. (10 pp., 267 KB, about PDF)