The Transfer Act's Unintended Economic Effects
Posted on by Bob Santy
The Connecticut Transfer Act was established in 1985 with an overarching purpose to address hazardous waste sites in a manner that would ensure environmental clean up, and protect the health and safety of residents. An admirable goal, the scope of the Transfer Act is very broad and can potentially affect any commercial property and even some residential properties across the state.
In this week’s episode, Bob Santy is joined by Mark Duclos, SIOR, CRE, of Sentry Commercial, to discuss how the presence of the Transfer Act has had a negative impact on Connecticut’s ability to grow the economy, and how a group of commercial brokers and land use attorneys have come together to find solutions to maintain the original intent of the Act, while lessening the negative effects on the growth of the state economy.