Empowering America’s Auto Communities: The RACER Trust Model Elliott Laws, RACER Trustee Bruce Rasher, RACER Redevelopment Manager Chad Meyer, President, NorthPoint Development George Brajkovic, Economic Development Manager, Unified Government of Wyandotte County and Kansas City, KS National Brownfields Conference, Atlanta May 16, 2013

The RACER Trust is in business solely to conduct safe, comprehensive and efficient cleanups that are protective of human health and the environment, and to prepare former General Motors properties for redevelopment and beneficial reuse. Our foremost responsibility and urgent goal is to match investors with opportunities that will put people to work and help revitalize communities that were hurt by job losses. Our success is built on a framework of collaboration with communities, environmental regulators and business leaders, who together are charting a course for renewal and prosperity. Purpose of the RACER Trust

GM bankruptcy (June 2009) Established by U.S. Bankruptcy Court, March 2011 Private entity 89 former GM locations, 14 states 44 million square feet of industrial space 66 buildings 7,000 acres Largest environmental trust in U.S. history ~$500 million to address environmental issues ~$273 million for administrative costs About the RACER Trust

Help communities affected by the closure of GM facilities Conduct safe, effective, efficient cleanups Position properties for redevelopment and sale to qualified, responsible buyers Complete cleanups and transactions that set the stage for long-term economic vitality RACER Trust Priorities

Cleanup, redevelopment coordinated and cohesive Regular contact with community leaders, regulatory lead agencies Clear, direct, transparent, responsive Sense of urgency How We Work

Codified in Settlement Agreement 1. Monetary value 2. Job creation 3. Tax revenue and other potential community benefits 4. Impact on site remediation 5. Views of the community — Consultation to determine desired reuse 6. Reputation of the purchaser Sales and Lease Criteria

Intentional Open Shared mission Trust Political support Working with Communities

We’re not a typical seller Transparent process Proactive Responsive Consistent Diligent Unique protections Working with Buyers

Cleanups required at 60 locations Liability for legacy issues remains with RACER Can sell/transfer property before remediation complete New use must not disrupt remediation Access agreements Restrictive covenants Remediation

Nearly 30 transactions completed; major deals in Ohio, Louisiana and Kansas More than $25 million in proceeds 4,500 jobs pledged Productive reuse Energy, enthusiasm for mission Outcomes

Partnership pays There are a lot of good people out there Not everyone There’s no such thing as too transparent The best deal is worth waiting for This isn’t only about selling property; it’s also about helping people Lessons Learned

Additional sales in the pipeline Plans in place for new jobs Growth in tax base Community revitalization What’s Next

@brasher_RACER Stay in Touch racertrust.org Session Evaluation ID No. 2060