[CPEO-BIF] Sarbanes-Oxley Act putting mothballed sites on market

[bobh@np.craigslist.org]

The article claims that the Sarbanes-Oxley Act, at least in the Bay Area in
California, is compelling companies to put warehoused brownfield sites on the
market.   I'd be interested to know if CPEO subscribers, based on their own
brownfields practice and experiences, would tend to agree with this assessment
about Sarbanes-Oxley.

Bob Hersh
CPEO

Brownfield Market Conditions Improving

Commercial Property News
May 31, 2007
By Ethan Fry

A self-described ?recovering banker? kicked off CPN?s San Francisco Property
Opportunities conference Thursday by saying a ?perfect storm? of positive
conditions will make brownfield rehabilitation much more attractive to developers
and investors.

Peter Hollingworth, president & CEO of Continental Environmental Redevelopment
Financial L.L.C., said during his keynote address that among the main positive
factors are improving political conditions, more realistic expectations from
regulatory bodies, better technology and improving public awareness.

...In addition, Hollingworth noted, more sites are coming on the market because of
the Sarbanes-Oxley Act that prohibits companies from warehousing brownfield sites
and forces them to put them--and the cost associated with cleaning them up--on
their balance sheets.

For the entire article, see:
http://www.cpnonline.com/cpn/specialties/article_display.jsp?vnu_content_id=1003592453




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