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LEACH AND EPA SIGN LANDMARK AGREEMENT TO REDEVELOP RAYMARK PROPERTY

Release Date: 07/30/1996
Contact Information: Mike Jasinski, EPA Project Manager; (617) 573-5786 Liza Judge, EPA Community Involvement; (617) 918-1067

BOSTON -- The U.S. Environmental Protection Agency announced today a first-in-the-nation agreement to incorporate the plans of a prospective redeveloper into the clean up of a Superfund site. The agreement with Leach Family Holdings, Inc., marks a critical step forward in plans to redevelop the Raymark property in Stratford, Conn. and create 1,000 new jobs and a $1 million in local tax revenue.

The prospective purchaser agreement clears the way for EPA to construct a protective cap designed to accommodate Leach's specific planned development of the property. In turn, Leach, a Rhode Island company, has agreed to reimburse EPA for the cost of this additional work. Upon completion of the protective cap and acquisition of the Raymark property, Leach plans to begin construction of a shopping mall. The agreement between EPA and Leach, approved by the U.S. Department of Justice, is unique in the nation's history because it marks the first time that EPA has incorporated the plans of a prospective developer into the clean up of a Superfund site.

"This agreement demonstrates the Clinton Administration's commitment to finding toxic waste cleanup solutions that make economic and environmental sense for our nation's communities," said EPA Administrator Carol M. Browner.

"Today's agreement is a critical step toward making Raymark the first Superfund site in the nation to be redeveloped for commercial purposes," said John P. DeVillars, regional administrator of EPA's Region 1, New England office. "Today's agreement is proof that the Clinton-Gore administration is making Superfund faster, fairer and more efficient -- by EPA working with the business community and state and local partners to clean up a contaminated eyesore and return it to beneficial reuse. The property will be cleaned up to protect the public and the environment.

And, importantly, Leach's redevelopment plans are likely to result in 600 construction jobs, 1,000 permanent new jobs and up to $1 million in local tax revenue to the Town of Stratford each year."

In today's agreement, EPA and DOJ are assuring Leach that the government will not hold Leach liable for existing contamination at the property.

Assistant Attorney General Lois J. Schiffer stated, "This Agreement makes clear that the Environmental Protection Agency and the Department of Justice are committed to removing barriers to the redevelopment of a contaminated property. The Agreement between the Government and Leach is an important step which will facilitate both the cleanup and the future development of this contaminated property."

Following a notification that will be published in the Federal Register shortly, the prospective purchaser agreement will be subject to a 30-day public comment period. EPA will notify the public to announce the start of the comment period. A copy of the agreement will be made available at the Stratford Public Library.

To date, Raymark, Leach and EPA have not agreed on terms concerning the sale of the property. EPA and Leach are confident that Leach will acquire the property in the future. "This project would not be possible without the good faith efforts of Leach and many who care about the economy and the environment of Stratford," DeVillars said.