Gary O'Connor Comments on Connecticut Transfer Act in Hartford Business Journal
Gary B. O’Connor, co-chair of law firm Pullman & Comley’s Real Estate, Energy, Environmental and Land Use Department was quoted in a Hartford Business Journal article on efforts to design a replacement for the Connecticut Transfer Act, which currently governs environmental cleanups in the state. Many feel that the Transfer Act has been a significant hindrance to property transactions and redevelopment opportunities.
Gary, who is a member of the Transfer Act Working group along with commercial brokers, licensed environmental professionals, environmental activists, other industry attorneys and stakeholders, said that subcommittees are looking at difficult issues, including whether residential property owners will be included, and how to minimize new obligations for existing businesses that might come with a release-based system.
“I think the subcommittees and working group are still working their way through these hot topics,” he said. “Once you find a historic release, what is your obligation in terms of notification? Investigation? How far do you have to chase it? How much do you have to remediate and are there different levels of concern?”
To read the full article, visit the Hartford Business Journal website.