Accounting for Stigma on Contaminated Land

Calling the redevelopment of urban brownfields a “major national priority” for the U.S., the Center for Environmental Policy and Management has outlined a new approach to assessing the value of brownfields. Since brownfield redevelopment occurs largely through private-sector purchases, it is essential to have an accurate and standardized brownfield appraisal process so that banks are willing to offer loans to potential purchasers. This report, written by CEPM in 1998, examines a number of approaches to brownfield appraisal and offers suggestions for a more accurate appraisal system. It includes a review of the U.S. regulations that affect the appraisal of brownfields.