What
is a "Covenant Not to Sue?"
Ohio's Voluntary Action Program was developed in 1994
to encourage the redevelopment and reuse of land that is contaminated
by hazardous substances or petroleum. The key to this program
is a "Covenant Not to Sue," issued by the Ohio EPA, that promises
the current property owner, or another volunteer, a release from state
civil liability associated with that contamination.
To obtain a "Covenant Not to Sue," a professional
certified by the Ohio EPA must review site data and ensure that the
property is protective of human health, safety and the environment.
What
are the Benefits?
There are many benefits in obtaining a "Covenant
Not to Sue"
for a property:
-
Provides peace of mind
-
Provides, in some instances, an abatement on increase
in property taxes for 10 years
-
Provides a legal document releasing the property owner
from liability
-
Increases property value
-
Creates an asset from a liability
-
Saves time by cutting through bureaucratic red-tape
Phase I and II Site Assessments
Hydro-geological Studies
Hazardous Waste Management
Underground Storage Tank Procedures
Regulatory Compliance
Copyright 2002
Smalley & Associates
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