These properties are generally much cheaper. With the passage of the Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996, lenders are more willing to lend money on polluted properties. The EPA and most States now have special initiatives aimed at promoting the sale of environmentally challenged properties. Such laws typically limit purchaser liability, reduce cleanup levels, and offer various other incentives. Voluntary cleanup programs.
Many States permit cleanups through voluntary cleanup programs.
This means that applicants approach the agencies with cleanup strategies, which are either approved, modified or rejected by the government. States are reporting universal success with these programs. New Environmental Insurance Policies. A major reason for the increase in contaminated property sales and development is the emergence of environmental insurance policies from national insurers. In the last five years, national insurance carriers have begun to write policies which are specifically designed to cover specified pollution events.