AR Municipal Brownfields Toolbox (Step 2

Municipal Brownfields Redevelopment Toolbox - Province of Ontario Step 2 - Evaluation The *Evaluation Step* provides the tools for determining the viability of the brownfields redevelopment project. This step summarizes: the market need; property valuation; site characterization; risk assessment; financial risks; governance structure, regulatory compliance, remedial options and public perception. Each brownfield property has its own risks and benefits that must be evaluated and assessed in terms of the local market drivers, such as economic, environmental, health and social.
Canadian Market and Drivers Public Sector Private Sector Brownfield Driver
Property Valuation Barriers and Socio- Economic Benefits Project Viability Land Value after Remediation
Conduct Research (due diligence) Environmental Site Characterization Physical Due Diligence and Building Condition Survey Environmental Site Assessment Risk Assessment Remediation Costs & Options
Legal Framework Federal Legislation Ontario Legislation Regulations and Compliance Requirements Record of Site Condition (RSC) Qualified Person Environmental Site Registry Phase I ESA Phase II ESA Risk Assessment Certificate of Property Use (CPU) Site Condition Standards
Financial Barriers Lenders Concerns The Advantages What the Lender Needs to Know Typical Provisions in Loan Agreement
Risk Evaluation and Management Risk Evaluation Risk Management and Transfer
Develop a Business Case Evaluate the Municipal Perspective Establish a Capital Budget