TRC contracted with the city, current owner Outokumpu Copper Kenosha and former owner Atlantic Richfield Co. to help in the transfer of the property to the city for redevelopment.
TRC has assumed responsibility for preparing the site for redevelopment by remediating the environmental effects of 115 years of manufacturing operations, company officials note.
Mike Salmon, senior vice president for TRC, says it will take one year for the demolition of the buildings at the property and another three years for environmental remediation work. Prior to demoliton, TRC must clear the building of asbestos and lead paint. In terms of environmental remdiation, TRC is contracted to clean up the soil and groundwater, which contains various amounts of chemical solvents and heavy metals.
American Brass, a division of ARCO, which is now a subsidiary of BP Amoco, had operated the factory until 1990. It was then sold to Finland-based Outokumpu, which ran the site until it shut down in 1999. Outokumpu and ARCO jointly contributed $5 million to the cleanup and the city will raise the remaining $5 million through state and federal grants and tax incremental financing bonds, according to TRC officials.
The city is expected to finalize the funding by the end of June.
"ARCO was looking for a way to address all building demolition and environmental issues at a closed plant so that we could transfer the property in a clean condition for productive use to the city that had hosted the plant for over 100 years," says ARCO vice president Sandra Stash.
TRC's Salmon adds, "In this case, we were able to structure an exit strategy for Outokumpu and ARCO that allowed them to walk away from the site, while also creating an 'entrance strategy' for the city that assured it that the cleanup will be done right and expeditiously to foster their redevelopment efforts."
TRC is working on the decommissioning and remediation of several Consolidated Edison of New York City properties on First Avenue. The company signed a contract in November 2000 for $103.5 million with Con Edison.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
