“I performed a very detailed” site study of the 6.8-acre property, said McNally, who lived in Texas before moving to Richmond. While many clamor for the GRTC to sell the location to developers, few are unaware of the legal implications at stake. There are both federal Environmental Protection Agency (EPA) and the state’s Department of Environmental Quality (DEQ) laws that the GRTC cannot ignore. “It’s too early,” said McNally, to “start pursuing sale of the property.” The reason: liability.
Should GRTC sell the property before a systematic appraisal and cleansing, it faces the possibility of incurring fines and even criminal prosecution from the EPA and/or DEQ. In other words: the GRTC is legally on the hook for any environmental issues as a result of their operation on the property.
As a result, the GRTC is taking time to clean and ready the site for sale.
McNally estimates that it will take approximately four years to ready the property. Sometime in 2016, the GRTC will entertain offers on property, and they will likely have no shortage of interested buyers.