Weekly News Roundup for November 10, 2017

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

For the first time in five years, not a single trophy property in Sydney, Australia was sold to a foreign buyer. Analysts believe recent tax increases are keeping away buyers from other countries.
The Illinois Attorney General filed […]

The Challenges of Moving Oil

Last year, thousands of people arrived in South Dakota near Lake Oahe to protest building a portion of the Dakota Access Pipeline underneath the lake. Environmentalists worried that an oil spill along the lake could contaminate the water sources for the nearby Standing Rock Indian Reservation.

In Vancouver, Oregon at […]

Weekly News Roundup for August 11, 2017

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

The Utah Attorney General is seeking nearly $2 million to cover the cost of damages and the cleanup of the Gold King Mine spill.
The proposed Trans Mountain Pipeline could be in jeopardy. Two Canadian officials are expected […]

Weekly News Roundup for April 28, 2017

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

• Norway’s sovereign wealth fund is well below its risk limit. The $940 billion fund is the largest sovereign wealth fund in the world.

• Property values in Milwaukee, Wisconsin are up from last year by 4.5 percent. Property values […]

Weekly News Roundup for March 24, 2017

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

A bill by Alaskan lawmakers that would make it easier to transfer contaminated properties is gaining traction in the Senate. The state is one of only seven in the country without an environmental covenant law.

Ann Arbor has […]

Weekly News Roundup for February 10, 2017

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

A bill to ban hydraulic fracturing operations in Maryland is expected to be introduced in the state legislature. The bill has more than 50 co-sponsors.

Researchers with the University of Alberta released a study linking stronger earthquakes in […]

Weekly News Roundup for February 3, 2017

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

Republicans are considering eliminating a law that requires oil and gas companies to capture methane released during operations on public lands.

Residents in Waco, Texas filed a lawsuit against the city over plans to build a new landfill.

A […]

Weekly News Roundup for January 27, 2017

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

The Keystone XL Pipeline, which was blocked during the Obama Administration, could possibly move forward following directives signed by President Donald Trump to expedite both the Keystone and the Dakota Access Pipelines.

Homeowners viewed the value of their […]

As Flood Waters Recede, Worries of Contamination in North Carolina

Hurricane Matthew left a trail of destruction in its wake after it moved north along the east coast. In addition to the high winds, heavy rains flooded towns and damaged thousands of homes. North Carolina was hit hard by the hurricane earlier this month, and the effects will be […]

Weekly News Roundup for October 14, 2016

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

Senator Ed Markey (D-MA) wants to remediate schools across the country to rid them of polychlorinated biphenyls (PCBs).

Last year more than half of the coal ash produced by power plants was recycled. In 2015, 61.1 million tons […]

Weekly News Roundup for October 7, 2016

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

Duke Energy will be removing millions of tons of coal ash from one of its power plants in North Carolina.

Environmental agencies in New York are investigating an oil spill that occurred at the Indian Point Nuclear Power […]

Weekly News Roundup for September 30, 2016

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

A NASDAQ executive discussed the differences in capital raising for private and public companies.

Researchers in North Dakota tested a new way to remove salt from land where it was introduced during the hydraulic fracturing process. The new […]

Weekly News Roundup for September 23, 2016

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

Residents in Bethpage, New York filed a $500 million class-action lawsuit against Northrop Grumman Corp, alleging the company exposed them to contaminants that included arsenic and cadmium.

The Obama administration delayed final approval of the Dakota Access pipeline. […]

Weekly News Roundup for September 16, 2016

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

Seattle is building a unique electrical substation that will look and function differently than the typical substations found in other cities. It will also run almost entirely on renewable energy.

Nearly 1,200 residents are leaving their homes in […]

Weekly News Roundup for September 2, 2016

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

Daikin America will pay a $5 million settlement following a lawsuit alleging that the company contaminated the Tennessee River.

The city of West Haven, Connecticut is initiating eminent domain for six properties so the city can move forward […]

Weekly News Roundup for August 26, 2016

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

U.S. shale oil and gas production has dipped significantly as oil prices have fallen. However, some experts believe the industry may have reached bottom and will begin increasing production again soon.

A water treatment plant, set up in […]

Weekly News Roundup for August 19, 2016

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

The Navajo Nation sued the federal Environmental Protection Agency (EPA) over last year’s Gold King Mine spill that sent millions of gallons of contaminated water into the Animas River.

Norway’s wealth fund downgraded the value of its United […]

Weekly News Roundup for August 5, 2016

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

Oil trains are being utilized less this year. In the first five months of 2016, crude oil train transport is down 45 percent from last year.

Property values in central London are falling at the fastest rates in […]

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 […]

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 […]

The Gulf Oil Spill – Updated

Greenfield Advisors produced a June 15, 2010, white paper on the valuation issues stemming from the April 20, 2010, Deepwater Horizon explosion, fire, and subsequent oil spill. Since that time, significant new issues have arisen. Greenfield has been asked to take the lead in valuation issues, and has responded with several […]

The Gulf Oil Spill

The Gulf oil spill issue is rapidly unfolding, and Greenfield Advisors has been tracking the situation since news of the explosion first hit. The following is based on the best information available to date, which is believed to be reliable. For more up-to-date information, please keep track of updates […]

Appraisal of Contaminated Real Estate in the United States

In the United States, contaminated property may be appraised for several reasons other than traditional property tax assessment: litigation (both tort and criminal), brownfield redevelopment, preservation/conservation easements, or financing. The Uniform Standards of Professional Appraisal Practice, adopted for use throughout the United States, outline the minimum standards in a […]

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 […]