Copyright (c) 1999 Arkansas Law Review and Bar Association Journal, Inc.
Arkansas Law Review
ARTICLE: Arkansas Facility/Real Property Redevelopment in the Year 2000:
Tools Available to Resolve Environmental Issues
52 Ark. L. Rev. 751
Walter G. Wright, Jr. *, Travis J. Morrissey **
Who bought land in the loop when it was waste sand. Edgar Lee Masters 1
Both the United States and Arkansas have enjoyed significant economic growth for an unprecedented period. One consequence of this sustained vitality has been increased interest in the redevelopment or expansion of a variety of properties or facilities. Advantageous locations and available infrastructure have resulted in older areas of some towns and cities being considered for redevelopment. 2 The private sector is not alone in its interest. State and local governments are focused on returning to productivity by utilizing non-tax producing or underutilized properties.
A redevelopment may involve a change or expansion of use. For example, a project may consist of constructing a commercial development on a former industrial complex. Just as likely may be the replacement of a commercial facility with residential properties. Of course, redevelopment does not always involve a change in the class of use (i.e., commercial to industrial, etc.). 3 A project could instead include the expansion of an existing process or facility. Demand for a new product or greater quantities of one already being produced may require an existing commercial or industrial facility to be reconfigured or expanded.
The viability of any real property development is dependent upon the resolution of a variety of operational, tax, financial, and/or legal issues. Nevertheless, the redevelopment of an improved property may also trigger environmental liability and/or regulatory 4 concerns of varying importance. 5 A typical scenario might involve a potential ...
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