A New York property owner participating in the state's Voluntary Cleanup Program completes remediation and receives a Certificate of Completion from DEC. Five years later, they want to sell the property. What protection does this certificate provide to potential buyers?
Correct Answer
D) Protection from state enforcement action for the remediated contamination, subject to program requirements
A Certificate of Completion under New York's Voluntary Cleanup Program provides protection from state enforcement action for the specific contamination that was remediated, as long as the remedial action continues to be protective and program requirements are met. This is significant but limited protection.
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A New York commercial property buyer discovers that the building's previous tenant operated a photo processing lab that used various chemicals. The tenant vacated two years ago and the space has been vacant since. What environmental due diligence should the buyer's agent recommend?
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A New York real estate agent represents a buyer interested in a property near the Gowanus Canal in Brooklyn, which is designated as a federal Superfund site. The target property is not within the Superfund site boundaries but is located 200 feet away. What should the agent advise the buyer?