Northeast Engineers | Blog

Office of the Comptroller Emphasizes Environmental Risk

September 24th, 2013

Env credit riskThe Office of the Comptroller of the Currency (OCC) has published a new “Commercial Real Estate Lending” (CREL) booklet of the Comptroller’s Handbook.  The revised booklet includes updated statutory and regulatory developments in environmental risk management.

The booklet provides much more guidance related to environmental risk. The CREL booklet states “Environmental contamination may negatively affect the value of real property collateral as well as create potential liability for the bank under various environmental laws. Therefore, the bank’s loan policy should establish a program for assessing the potential adverse effect of environmental contamination and ensure appropriate controls to limit the bank’s exposure to environmental liability associated with real estate taken as collateral.”
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Study Finds Wind Turbines Do Not Affect Property Values

September 3rd, 2013
Figure 1: Map of Transactions, States, and Counties

51,276 home sales

67 wind facilities

27 counties

9 states

0 effect

The Lawrence Berkeley National Laboratory recently published a study with a title that doesn’t exactly roll off the tongue, “A Spatial Hedonic Analysis of the Effects of Wind Energy Facilities on Surrounding Property Values in the United States”.  The comprehensive study found “no statistical evidence that home prices near wind turbines were affected in either the post-construction or post announcement/ preconstruction periods.” According to the press release, “This study, the most comprehensive to-date, builds on both the previous Berkeley Lab study as well a number of other academic and published U.S. studies, which also generally find no measureable impacts near operating turbines.”

Ben Hoen, the lead author of the new report says “Although there have been claims of significant property value impacts near operating wind turbines that regularly surface in the press or in local communities, strong evidence to support those claims has failed to materialize in all of the major U.S. studies conducted thus far”.

The findings of this study bring to mind a recent Patch article following up on the contentious North Kingstown Green wind turbine.  This 413-foot-tall turbine was installed in a residential subdivision about a year ago.  Some of the neighbors and former opponents of the project now state ““It doesn’t bother me”, “You’re sitting outside and it’s not there”, and “The peepers at night drown out the sound.”


Blog post written by Jason Gold, P.E.

EPA Proposes To Accept Updated Phase I ESA Standard

August 16th, 2013
photo credit: umjanedoan

photo credit: umjanedoan

On August 15th, the USEPA published a proposed amendment to the All Appropriate Inquiries (AAI) Rule.  The proposed amendment will “reference ASTM International’s E1527-13 ‘Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process’ and allow for its use to satisfy the requirements for conducting all appropriate inquiries under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).” The EPA will accept public comments until September 16, 2013.

To explain the differences between the current and proposed standard, the USEPA also published a summary of the revised standard, “Summary of Updates and Revisions to ASTM E1527 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process: How E1527-13 Differs from E1527-05”. Refer to my previous blog posts to learn more about the 2013 standard.

Contact us with any questions regarding the proposed rule or E1527-13.


Blog post written by Jason Gold, P.E.

 

Commercial Real Estate Loans On The Rise

August 12th, 2013
improving economy

photo credit: The-Lane-Team cc

Construction companies are becoming more confident in new developments and more banks are returning to Commercial Real Estate lending according to this article.  Data from the Trepp Market Snapshot Report indicates the northeast saw $21 billion dollars of commercial real estate loans in the past 12 months, more than any other region in the country. 
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Protecting the Maidford River

July 19th, 2013

ALT Conservation Land

The Aquidneck Land Trust recently announced the conservation of another 10.65 acres in Middletown.  The Randall property was on the Trust’s top priority list for watershed protection.  Located on the banks of the Maidford River, conservation of this property will maintain a natural buffer; preserving the quality of the river.  The property is also contiguous with other conserved parcels within the Sakonnet Greenway, furthering it’s importance. In this press release, ALT Executive Director Chuck Allott refers to the property as “the poster child” for the Trust’s goal of protecting Aquidneck Island’s watersheds.  The Aquidneck Land Trust now claims 2,429 acres of preserved land on Aquidneck Island!

Congratulations and many thanks to the ALT for their continuous work preserving and protecting the natural beauty and water quality of Aquidneck Island.

 


Blog post written by Jason Gold, P.E.