■ Special Environmental Report
Continued From Page 36 affected real estate developers and redevelopers , including homebuilders and commercial , office and industrial developers , whose permitted projects were put on hold even if the permits had fixed expiration dates . Fortunately , the state has provided relief in the form of executive orders and a Permit Extension Act that enables the extension of permit periods and other deadlines . However , an understanding of the new laws and the permit extension process is necessary to reap the benefit of the relief measures . Connell Foley has been able to help its clients navigate the changes to the permitting system . We have not only advised our clients on the issues , but have also helped them file the necessary registrations to benefit from the Permit Extension
Act . Accordingly , they have extended the life of their permits and other approvals without undergoing the costly and time-consuming procedures for obtaining new permits and approvals .
Connell Foley LLP By Steve Barnett , Esq ., PE , CIH , MSPH
A client seller was having difficulty clearing environmental investigation and remediation requirements to close a commercial real estate transaction . The NJDEP regulations and guidance allowed closing out areas of concern by means of including a cap and deed notice in the Response Action Outcome ( RAO ). However , the buyer ’ s lender would not accept a cap or deed notice . Connell Foley performed a careful analysis of the site sampling results and field notes , and applicable NJDEP preliminary assessment , site investigation , remedial investigation and remedial action rules and guidance . Discussions with the seller ’ s LSRP yielded several options to close out remaining areas of concern with an unconditional RAO ( no cap or deed notice needed ). The LSRP conducted additional review , sampling and analysis according to our discussions . The new approaches were successful , allowing the buyer ’ s lender to give clearance for closing . The transaction closed on schedule despite COVID‐19 , much to the appreciation of the seller and the buyer who were pleased with the outcome .
CSG By Dennis M . Toft , Esq ., Chair , Environmental Group
Clear communication with clients and regulators is important during the COVID‐19 pandemic , as is recognizing the impact of working remotely and other challenges . For example , we recently obtained NJDEP approval of insurance policy language that allows parties subject to the requirement to use insurance to post financial assurance for a remediation permit , rather than tying up funds in a cash escrow account . When a remediation is completed using engineering controls , the Site Remediation Reform Act requires the party conducting the remediation to obtain a remediation permit and post financial assurance to secure the operations and maintenance of the engineering control for 30 years . Although the Act allowed for the use of insurance , carriers were reluctant to issue policies that met all of the requirements . Working with Ironshore Insurance , Christopher Alviggi of NFP and Advance Realty , we were able to develop policy language that was submitted
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