VIDEO: EPA Spotlights Successes at Former RACER Properties in RCRA Redevelopment Showcase
U.S. EPA highlights successful redevelopments of the M1 Concourse, the Yankee Air Museum and Former GM Willow Run Powertrain Plant Property.
As part of its RCRA Redevelopment Showcase video series, U.S. EPA recently published three separate redevelopment and reuse video profiles showcasing the successful repositioning of RACER Trust properties in Michigan. RACER is one of the largest holders of industrial property in the United States and is the largest environmental response and remediation trust in U.S. history.
The RACER Trust was created in March 2011 by the U.S. Bankruptcy Court to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. Once formed, the RACER Trust owned more than 44 million square feet of industrial space in 66 buildings across 7,000 acres in 14 states, principally in the Midwest and Northeast.
The U.S. EPA, the lead regulatory agency overseeing RACER Trust’s cleanup of the former GM properties, has published videos containing brief overviews of the agency’s work with three properties that their new owners and RACER Trust have prepared for redevelopment and reuse.
These stories highlight the availability of prospective purchaser agreements to provide important assurances to buyers of brownfield properties. RACER Trust works closely with the U.S. EPA and other regulatory agencies to secure PPAs or other legal instruments of liability protection for our buyers.
These videos also serve as case studies of the tremendous beneficial outcomes that can be achieved when the private and public sectors work in partnership to achieve mutual objectives and return formerly blighted, underutilized properties to productive use.
Watch Willow Run >>
Watch Yankee Air Museum >>
Watch M1 Concourse >>
RACER Trust also received placed as a finalist in the Chicago BOZ Bootcamp & Pitch Competitition, read on >>