Category:
Proposed NJDEP Site Remediation Rule: A Challenge for NJ Commercial Real Estate
October 29, 2024
The New Jersey Department of Environmental Protection has recently proposed a new rule to its site remediation rules that will severely hinder commercial real estate transactions. The proposed rule “when a person performing remediation as defined at N.J.A.C. 7:26C-1.3, including performing all appropriate inquiry in accordance with N.J.S.A. 58:10-23.11g, and obtains knowledge that a discharge has occurred at any location on a property, that person shall immediately notify the Department.”