Benefits

Benefits to the U.S. EPA and state:

• Agency oversight of and assured funding for environmental action and LT OM&M

• Pre-paid Agency oversight funding

• Agency approval of ERRT annual environmental action budgets 

• Cooperative and transparent relationship between Agency and ERRT

• The ERRT is not motivated to delay or withhold expenditures 

• Avoidance of Agency enforcement costs 

Benefits to the community:

• Accelerated cleanup, protection of public health and the environment, redevelopment,
  restoration of tax base and replacement jobs 

• Re-use of existing infrastructure

•  Avoidance of blight 

• Preservation of green space

Benefits to liable party:

• Certainty, financial assurance and finality 

• Disposal of surplus property and environmental liability

• Eliminate recording and financial disclosure of environmental liability

• One-time payment to ERRT is included in calculation of adjusted basis and recognized as a
  capital loss for tax purposes in the tax year paid