16B — April 11 - 24, 2014 — New Jersey — Mid Atlantic Real Estate Journal
“Getting deals done in the new environmental age”
2014 BOARD OF DIRECTORS PRESIDENT Monica Ceres, Giordano Halleran & Ciesla email@example.com PRESIDENT-ELECT Patricia Faulkner, NAI Global firstname.lastname@example.org TREASURER Rebecca Machinga, WithumSmith+Brown, PC email@example.com SECRETARY Lory Karakashian, PE, CME , InSite Engineering, LLC Lory@InSiteEng.net DIRECTOR-COMMUNITYSERVICE/OUTREACH TinaMarie Cortina, Liberty Elevator Corporation DIRECTOR - MEMBERSHIP Krista Korinis, Global Installation Resources, LLC firstname.lastname@example.org DIRECTOR - PROGRAMS Tara Carver, Esq., Giordano Halleran & Ciesla P.C. email@example.com PR/MARKETING AND COMMUNICATIONS Susan Karp, Esq., Cole Schotz Meisel
CREWNJ holds monthly meeting at The Hilton Parsippany
PARSIPPANY, NJ – The Site Remediation Reform Act (SRRA) of 2009 “affects nearly all real estate transactions,” said Susan Karp, Esq. , of Cole, Schotz, Meisel, Forman and Leonard, mod- erator of a panel discussion at the monthly meeting of CREWNJ, Commercial Real EstateWomen of New Jersey. The topic of discussion at the event, held at The Hilton Parsippany, was “Getting Deals Done in the New Environmental Age.” The “new age” refers to the aftermath of NJ’s full implementation of its Site Remediation Re- form Act which allows licensed private sector consultants – so-called Licensed Site Remediation Professionals (LSRPs) – to sign off on cleanups, a task formerly reserved for NJ Department of Environmental Protection (NJDEP) staffers. “DEP couldn’t handle the work load,” which caused extensive delays in project approvals, said Karp. She termed the LSRP program “a semi-privati- zation of the site remediation approval process.” How has the program impacted a project’s timeline? “There are still documents for NJDEP to review, but the shorter timeline has a tremendous financial impact,” said MonikaMajewska , the company’s Director of Development. According to SharonMcSwieney , an LSRP at Langan Engineering and Environmental Services, for cases that once took years to get through, “the time has been cut in half from project review to closure. The LSRP program is clearly benefiting the business community.” Echoing those comments, “the LSRP program has expedited the remediation process and site preparation work,” said Michael Sylvester , Executive Vice President of BETTS Environmental. Even so, “some projects will still take longer,” McSwieney said, particularly those involving wetlands, land-use permits, and “ecological issues. The DEP is still involved in these issues and others —for example, if a site needs to be capped.” “It is critically important, as you look at a new project, to assemble a team that works well, in order to insure the transition,” said Sylvester. “Engage the LSRP at the front end of the project.” When should you engage an LSRP – and when should you not? “Sellers are still frequently prohibiting use of an LSRP during a buyer’s due diligence because of reporting obligations that the regulated community still interprets as being applicable to the LSRP, even if it hasn’t been formally retained for the case,” said Karp. McSwieney and Sylvester both take the position that the “LSRP can perform due diligence and do not have the reporting obligation, as long as it is not the LSRP of record,” As to the role of the LSRP, “it is important to understand that they are not merely a consultant to the developer,” said Majewska. “The individual has an official role to play, and has to abide by the rules and regulations. You have to do your homework up front to choose the right LSRP.” “You need to think through the goals and expectations and do your homework,” agreed Karp. “In selecting an LSRP, the extent to which an LSRP will use its professional judgment is key,” said Karp. “LSRPs don’t always agree on how they are obligated to proceed under NJ’s complex techni- cal rules. Know where your LSRP stands on key issues before you retain them.” “This program is another example of our mission,” said Patricia Faulkner of NAI Global and Chapter President-Elect of CREW NJ, who hosted the event. “That mission is to advance the pro- fessional development of women in commercial real estate through educational meetings and seminars and to promote opportunity for business growth.” The monthly CREW NJ philanthropy was New Eyes…Glasses for Those in Need. “New Eyes empowers children and adults in the United States and overseas with the improved vision they need to pursue a better quality of life for themselves, their families and their communities,” said Jean Gajano , the Short Hills, NJ-based organization’s executive director. “We improve the vision of children and adults in need by purchasing new eyeglasses in the United States, and recycling donated glasses for distribution worldwide. “Since our founding in 1932, New Eyes has improved the eyesight of more than 7,500,000 people in the U.S. and around the world,” she said. CREW NJ’s next monthly meeting, slated for April 10th at The Hilton Woodbridge, will feature “Rising to the C-Suite,” a presentation by Annemarie DiCola, Esq. , CEO/Director of Trepp, LLC, a technology provider for the real estate and banking communities. Also coming up is CREW NJ’s 13th Annual Golf Classic & Reception, slated for May 7th at Fiddler’s Elbow County Club in Bedminster Twp., NJ
Forman & Leonard, P.A. firstname.lastname@example.org DIRECTOR - SPECIAL EVENTS Suzanne Bonney, AIA email@example.com DIRECTOR - SPONSORSHIP Jennifer Mazawey, Esq., Genova, Burns, Giantomasi & Webster firstname.lastname@example.org DIRECTOR - SPONSORSHIP Diane Menard, Prestige Title Agency, Inc. email@example.com COUNSEL/ADVISOR Cheryl Hardt, CBRE Group, Inc. firstname.lastname@example.org COUNSEL/ADVISOR & BY-LAWS Sheila Nall, KSS Architects email@example.com COUNSEL/ADVISOR Patricia Riedel, CBRE Group, Inc.
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