Land Contamination Presents Major Issues in Appraising Value
Frank Sperduti, a partner and leading environmental lawyer at Borden Ladner Gervais LLP in Toronto, highlights how courts and tribunals have addressed issues surrounding the appraisal of value in land contaminations.
Evidence of environmental contamination, or “impairment”, can have significant ramifications in the marketing and sale of real estate. For example, the presence of contamination could attract the requirement for clean up costs to be incurred, impact or alter the highest and best use of part or all of a site, affect the ability of an owner or purchaser to obtain financing, building permits or redevelopment approvals, create civil liability to adjoining landowners, or result in regulatory orders or charges under provincial legislation.
Frank Sperduti is a partner with BLG and a member of the Board of Directors and past president of the Ontario Expropriation Association. He practises in the areas of civil litigation and administrative law, with an emphasis on expropriation planning, environmental law, commercial litigation and regulatory prosecutions. For more information on Frank Sperduti please visit http://www.blg.com/en/home/our-professionals/Pages/Sperduti-Frank.aspx