David Gillay, Barnes & Thornburg and John Sallman, Terracon Consultants, Inc.
Educating clients about the importance of addressing vapor intrusion risk on today's real estate deals is one of the top technical challenges that environmental professionals face. Join us as two vapor intrusion experts share their experience from the field. With the science evolving at a rapid rate, VI is the unseen villain that is complicating real estate transfers, financing/re-financing options and brownfield redevelopment. As property transactions get underway after a long downturn--and a large number of properties begin to change hands due to foreclosures, workouts and distressed asset deals--it is critical for environmental professionals to understand how VI, even on properties with NFA letters, can create liability for property owners, tenants and lenders.
One important development involves EPA's efforts to make dramatic changes to its Draft 2002 VI Guidance. David Gillay, a leading environmental attorney, will cover the most significant proposed changes to the EPA's VI guidance from a legal perspective and what these changes mean for Phase I ESA standard operating procedures. Gillay will also provide several recent cases involving VI that highlight the importance of proactively addressing risk upfront.
To help environmental due diligence professionals better understand the VI pathway and its implications for increasing a property purchaser's potential environmental liability, John Sallman, a Senior Principal and Environmental Department Manager at Terracon Consultants, will present on his experience educating clients, how he deals with client resistance, why the VI opportunity differs in states that have guidance versus those that do not, what ASTM's efforts to revise E 1527-05 might mean and why firms need to proactively address VI with clients. Sallman was recently chosen to lead Terracon's Vapor Task Group and will also share what his firm is doing to maintain an internal dialogue on this important topic.