Two Talks at the World Congress on Petrochemistry and Chemical Engineering

I was honored to be a keynote speaker at the 3rd World Congress on Petrochemistry and Chemical Engineering held in Atlanta, Georgia, earlier this month. When I first heard about the conference, I wasn’t sure if I was exactly the right fit for an audience of chemical engineers and […]

Weekly News Roundup for November 20, 2015

These are some of the stories we’ve been following this week.

According to West Virginia’s latest assessment of properties owned by public utilities, property values fell in counties where coal is mined, whereas property values increased in counties where natural gas is extracted.

North Carolina counties have been passing moratoriums on […]

The Benefits of Brownfield Redevelopment

You’ve probably heard of brownfields—abandoned or underutilized properties with real or perceived contamination. But you may not understand the risks they pose if not properly assessed and remediated, or the opportunities they present if carefully redeveloped. Today we examine the benefits of brownfield remediation and redevelopment, areas where we’ve […]

Weekly News Roundup for October 30, 2015

These are some of the stories we’ve been following this week.

The Gold King Mine owner spoke to reporters for the first time since the leak that sent contaminants into the Animas River in August, discussing his interactions with the U.S. EPA and his concerns about the source of the […]

Weekly News Roundup for July 31, 2015

These are some of the stories we’ve been following this week.

The U.S. Environmental Protection Agency (EPA) announced three grants worth a total of $600,000 to two Philadelphia development authorities for the assessment and redevelopment of brownfield sites. Nationally, 147 communities received 243 grants totaling $54.3 million in 2015 for the […]

Georgia Association of Assessing Officials Conference Highlights

I attended the Georgia Association of Assessing Officials (GAAO) 55th Annual Summer Conference on Jekyll Island, Georgia, July 20 and 21. If you are not familiar with Jekyll Island, it was the summer playground for some of the wealthiest families in America in the 1800s and early 1900s. Families […]

Weekly News Roundup for July 24, 2015

These are some of the stories we’ve been following this week.

The House approved a bill to weaken the U.S. Environmental Protection Agency’s recent coal ash disposal rules, which we wrote about earlier this year. However, President Obama is threatening a veto.

Adding the right pool to a home can significantly […]

Weekly News Roundup for May 29, 2015

Here are some of the stories we’ve been following this week.

Acclaimed mathematician and economist John Nash died. Nash was particularly well known for his contributions to game theory.

The Brownfield Cleanup Program has been critical in promoting the growth and revitalization of Buffalo, New York, and the new state budget […]

The Challenges of Neighborhood Redevelopment

In a previous post, we discussed how vacant lots and abandoned properties create complex challenges for many municipalities and noted that the lack of consistent definitions and reliable tracking systems is one hindrance to solving the problem. In this post, we delve into why it can be so difficult […]

Oklahoma Brownfields Conference Recap

Earlier this week I attended and spoke at the 2014 Oklahoma Brownfields Conference in Tulsa, Oklahoma. The theme of the conference was “Rethink, Reinvest, Reinvent.”

Sessions on the first day included a general session by Bill Strickland from Pittsburgh, Pennsylvania, author of several books on making the impossible possible. He […]

Valuation of Brownfield Properties

This chapter examines the valuation considerations for brownfields and other contaminated real estate, including issues such as stigma, appraisal standards and methods, and incorporates the impacts of the 2002 Brownfields Amendments on valuation practice. Additionally, this chapter presents examples of value-added opportunities in brownfield development, with a focus on […]

Valuing Brownfields

The appraisal adds significantly to the overall brownfield evaluation and potential adaptive reuse in numerous ways. The appraisal can and should be viewed as a decision-making tool to optimize financial decisions regarding brownfields. This chapter illustrates key elements of the appraisal analysis, thus highlighting important impacts on brownfield redevelopment […]

Highlights from Valuation of Brownfield Properties

The January 2006 update to Lexis-Nexis Matthew Bender’s Valuation Law and Practice saw a wholesale revision of Chapter 29, “Valuation of Brownfield Properties.” This article summarizes some of the highlights of that revision.
Author: John A. Kilpatrick
Originally published in the ABA Environmental Transactions and Brownfields Committee Newsletter, Vol. 9, No. 1 (2006)
Click here […]

Windfall Lien Guidance

In 2003, Congress passed the Small Business Liability Relief and Brownfields Revitalization Act, Public Law 107-118 (Brownfield Amendments), to promote the redevelopment and beneficial reuse of brownfield sites in the U.S. Congress provided for liability protection for bona fide prospective purchasers, but provided that these properties may be subject […]

The Brownfield Challenge

Most appraisers can agree on four key points about valuing brownfields:

Contamination poses an issue that must be considered in the appraisal process.
Proximate contamination significantly impairs property values.
Multiple impairment mechanisms are at work, including actual cost-to-cure, increased ongoing maintenance costs, and stigma.
The valuation process is complex, often requiring advanced valuation approaches […]