May 23, 2010
The current economic recession has contributed to a significant number of Clean Water Act compliance issues on development parcels previously authorized by the US Army Corps of Engineers. In many instances, projects were halted midway through the effort as banks and other lending authorities assumed ownership of their investments.
Most compliance issues are associated with a failure of the original developer to provide mitigation to offset the loss of jurisdictional surface waters. In order to avoid a potential lengthy and expensive enforcement action, staff at Terra Technologies recently approached numerous Potentially Interested Parties to facilitate a compliance settlement. As the registered agent for a client in receivership, the firm mediated a settlement for the purchase of wetland credits in satisfaction of permit provisional requirements.
Potentially interested parties can include lending institutions, lien holders, on-site operators, potential buyers, and estate interests. For a recent Notice of Permit Noncompliance (NPN), a settlement was attained at a small fraction of the cost of litigation. For more information, contact your local office of Terra Technologies. |
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