EPA Proposes Agreement for Contaminated Property Acquisition in New York

Summary

The U.S. Environmental Protection Agency (EPA) is proposing a prospective purchaser agreement with the Town of Oyster Bay, New York, for the possible acquisition of a 15-acre contaminated property within the Liberty Industrial Finishing Superfund Site. The Town would be protected from EPA's administrative actions if it acquires the property, and would pay the difference between the property's value and the amount paid to existing owners, with a minimum payment of $500,000 and a maximum of $5.3 million.