The Fund works closely with vendors of environmentally-impacted sites to ensure that their particular needs are satisfied.
The Fund offers vendors of environmentally-impacted sites indemnification from site-specific environmental liabilities. Vendors of impacted sites should be aware that standard "as is, where is" transaction language will not necessarily protect past owners from potential regulatory environmental liability. The Fund uses approved site closure mechanisms together with environmental legal liability insurance to back its indemnification to vendors of brownfield sites.
In addition to Fund's usual practice of purchasing brownfield sites outright, an opportunity also exists—under the right circumstances—to joint venture with the vendor on projects. The Fund recognizes that, for some vendors, there might be a real benefit to joint venturing on the redevelopment of their environmentally-impacted properties.