Public Benefit Corporation formed for the least desirable surplus environmental sites
DENVER, CO (July 14, 2016) – Legacy Land Stewardship PBC is a new company specifically created to provide a secure divestment solution to owners of surplus, environmentally-impacted real estate that responsibly and permanently delivers sustainable, long-term environmental stewardship, and seeks eco-friendly reuses for public benefit. As a Public Benefit Corporation, Legacy Land Stewardship can now effectively balance important environmental and social responsibilities with those necessary long-term custodial obligations.
Long-time brownfield and environmental risk experts Eric Williams and Paul Newman formed Legacy Land Stewardship PBC for the great majority of brownfield sites that don’t have development or reuse potential. “Up to 80% of brownfield sites nationwide don’t have enough underlying value to overcome the cost and risk of redevelopment”, Founder and President Eric Williams explains. “Investors and developers have no interest in these sites, and until now there’s been no solution for their long-term ownership and stewardship.”
Legacy Land Stewardship PBC caters to owners of surplus properties where cleanup is substantially complete, but long-term environmental obligations remain. “From mining sites and landfills to closed industrial facilities, Legacy Land Stewardship PBC is ideal for the owners of these environmental properties” says Founder and Executive Vice President Paul Newman. “Corporate owners of surplus real estate want to concentrate on their core business instead of the perpetual management of non-performing assets”.
Transferring a portfolio of such sites to Legacy Land Stewardship allows an owner of surplus properties to:
- Clean up its balance sheet
- Eliminate recurring and indefinite yearly expenses
- Focus on profit generating aspects of its business
- Shed environmental liability
- Re-focus internal personnel on core business activities
- Benefit from positive socially responsible and eco-friendly public relations