Calif. Resuscitates Local Authority For Brownfield Sites
October 29, 2013, 12:04 PM EDT
Law360, New York (October 29, 2013, 12:04 PM EDT) -- In 2011, in response to significant budget challenges, California abruptly dissolved over 400 redevelopment agencies (RDAs) created by local governments to remediate urban decay. This action allowed the state to facilitate the transfer of the substantial funds amassed by RDAs to support other local government agencies.
But it also had significant repercussions for the cleanup of contaminated property because the RDAs had primary authority to expedite removal and remedial activities using powers granted by the Polanco Redevelopment Act (Health & Safety Code, §§ 33459-33459.8). The state...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.