Brownfields Redevelopment for Former Pesticide-Formulation Facility
Client: CHL Administration / Portland, Oregon
MFA assists landowners in redeveloping contaminated commercial and industrial properties such as this one in Portland, Oregon, and helps spur economic development in the process. MFA developed a strategy and supported the transition of this former pesticide-formulation facility from a substantial environmental liability into an asset. The strategy allowed both the owner and the purchaser to achieve financial gain and add substantial value to their respective businesses. It returned a prime piece of industrial property to productive use. MFA was instrumental in securing funding for the redevelopment from private institutions and the Oregon Economic and Community Development Department (OECDD). The OECDD funds were backed by a USEPA Brownfields grant. The site was awarded the OECDD 2007 Brownfields of the Year Award. MFA also helped the client to successfully settle with insurance carriers and third parties. The settlement and the grants provided funds for site characterization, remedy selection, and cleanup. MFA also worked with the buyer to implement the cleanup under a Prospective Purchaser Agreement (PPA) with the State of Oregon.