PPA Secures Long-Term Steward to Implement Remedy and Support Reuse in Woburn, Massachusetts

At the Wells G&H Superfund Site, in Woburn, Massachusetts, the U.S. Environmental Protection Agency (EPA) and Department of Justice (DOJ) finalized a prospective purchaser agreement (PPA) in November 2022. The purchasers are IV5 60 Olympia Avenue LLC and IV5 60 Olympia Land LCC. The potentially responsible parties (PRPs) had been performing Superfund removal work under an  administrative settlement agreements with EPA since 2003, but were unable to complete the work due to their lack of funds.

Under the terms of the PPA, the purchasers agreed to complete a new characterization of the property, submit a work plan for EPA approval, provide $2 million in financial assurance, and complete the removal action in a faster and more efficient manner. The PPA also enabled EPA to reach a separate settlement agreement with the PRPs that provided for their payment of $1.2 million from the proceeds of the sale of the property towards EPA’s unrecovered past costs.  

On this page:

• Information about IV5 60 Olympia Ave Parcel A, LLC and IV5 60 Olympia Ave Parcel B, LLC
• Information about the Wells G&H Superfund Site
• Overview of the Prospective Purchaser Agreement
• Contact Information

Information about IV5 60 Olympia Ave Parcel A, LLC and IV5 60 Olympia Ave Parcel B LLC

The purchasers are comprised of two separate property development companies, which are limited liability companies incorporated in Delaware. The first is IV5 60 Olympia Ave Parcel A, LLC, which purchased parcel A of the property, and IV5 60 Olympia Ave Parcel B LLC, which purchased parcel B of the property. These two companies intend to use the 21-acre parcel within the site as a transportation hub.

Information about the Wells G&H Superfund Site

The site includes the approximately 330-acre aquifer and land mass area located within the zone of contribution to the City of Woburn’s two prior municipal drinking water wells, known as Wells G&H. Specifically, the Olympia property, previously owned by Olympia Nominee Trust, is a 21-acre parcel located in an industrial park within the site. EPA identified five properties as sources of contamination to the aquifer that serviced Wells G&H, which includes the Olympia property. EPA sampling identified TCE-contaminated soils on the Olympia property as well.

In 1983, EPA placed the site on the National Priorities List (NPL). Then in 1991, EPA entered into a consent decree (CD) with the PRPs, which required the implementation of the record of decision (ROD). Olympia Nominee Trust did not participate in the settlement. In 2003, after additional sampling at the property, EPA issued an action memorandum selecting a removal action for the property. In 2003, EPA and Olympia Nominee Trust entered into an administrative order on consent (AOC) to address the cleanup of PCB-contaminated surface soils on the property. In 2004, EPA finalized an AOC with Olympia Nominee Trust to clean up the TCE-contaminated soil at the property. Olympia Nominee Trust performed some work under the 2004 AOC but was unable to complete it due to lack of funds. More information is available on the Superfund site’s profile web page.

Overview of the Prospective Purchaser Agreement

Under the PPA, given changes in site conditions and technology since the 2003 action memorandum, the purchasers will conduct site characterization work to develop an updated removal work plan to address TCE-contaminated soils and implement the removal work plan on an accelerated schedule. EPA estimates the cost of the work to be approximately $2 million. In addition, the purchasers will pay 80% of EPA’s oversight costs and provide financial assurance for the removal work. The PPA also leveraged a section 122(h) settlement with Olympia Nominee Trust. Under the 122(h) settlement, Olympia Nominee Trust will use proceeds from the sale of the property to pay $1.2 million to EPA in resolution of its outstanding past costs at the property.  

Contact Information

For more information contact:

Susan Scott
Attorney-Advisor
U.S. Environmental Protection Agency
Five Post Office Square
Boston, MA 02109
(617) 918-1778
[email protected]

RuthAnn Sherman
Senior Enforcement Counsel
U.S. Environmental Protection Agency
Five Post Office Square
Boston, MA 02109
(617) 918-1886
[email protected]

Susan Boushell
Attorney-Advisor
U.S. Environmental Protection Agency
1200 Pennsylvania Avenue, NW
Washington, D.C. 20460
(202) 564-2173
[email protected]