1. Real Estate Principles and Practices Chapter 18 Environmental Issues and Real Estate © 2010 by South-Western, Cengage Learning

2. Key Terms Air Quality Act of 1967 Asbestos Brownfields Carbon monoxide (CO) Clean Water Act Coastal Zone Management Act CERCLA Electromagnetic fields Encapsulation EPA Flood Control Act Formaldehyde Groundwater Landfill Lead LBPHRA Mold NEPA Radon

3. © 2010 by South-Western, Cengage Learning Key Terms RCRA Safe Drinking Water Act Superfund SARA Underground storage tanks Wetlands

4. © 2010 by South-Western, Cengage Learning Overview Laws passed to protect public health and welfare Pollution through population growth and development can be minimized by the law

5. © 2010 by South-Western, Cengage Learning Outdoor Pollution Issues Air Quality Act of 1967 Protects and controls air pollution Amended 1970: established quality standards Effect on small industries

6. © 2010 by South-Western, Cengage Learning The National Environmental Policy Act (NEPA) Encouraged protection to reduce future damage Created and Funded by:

7. © 2010 by South-Western, Cengage Learning The Flood Control Act Regulations to control erosion, preserve wildlife habitats, and shelter marine life Regulations to control erosion, preserve wildlife habitats, and shelter marine life

8. © 2010 by South-Western, Cengage Learning The Clean Water Act Army Corp of Engineers issues permits regulating “discharge of dredged or fill material into navigable waters.” Wetlands: areas covered by surface or ground water sufficient to support vegetation adapted for life in saturated soil conditions

9. © 2010 by South-Western, Cengage Learning The Resource and Recovery Act (RCRA) Legislates the transportation, storage, treatment and disposal of hazardous waste in designated dump sites FHA, Fannie Mae, and Freddie Mac require connection to municipal system when available

10. © 2010 by South-Western, Cengage Learning The Resource and Recovery Act (RCRA) Amendment to RCRA regulating USTs Tanks must be have an EPA leak detector system UST owners must register tanks and comply with regulations Underground Storage Tanks

11. © 2010 by South-Western, Cengage Learning The Comprehensive Environmental Response, Compensation, & Liability Act CERCLA: AKA Superfund: CERCLA: AKA Superfund: programs to cleanup hazardous waste sites Superfund Amendment and Reauthorization Act (SARA): Superfund Amendment and Reauthorization Act (SARA): former and current owners must pay for toxic cleanup

12. © 2010 by South-Western, Cengage Learning The Comprehensive Environmental Response, Compensation, & Liability Act Landfill landfill reclamation Landfill sites are reclaimed by landfill reclamation NIMBY: “not in my back yard.” Mining Landfills

13. © 2010 by South-Western, Cengage Learning The Comprehensive Environmental Response, Compensation, & Liability Act Brownfields: Brownfields: vacant industrial and commercial sites often containing hazardous waste Brownfield legislation - redevelopment Brownfields

14. © 2010 by South-Western, Cengage Learning The Comprehensive Environmental Response, Compensation, & Liability Act EMFs: EMFs: deterrent in selling a house View No evidence of causing cancer Electromagnetic Fields

15. © 2010 by South-Western, Cengage Learning Indoor Pollution Issues Chemical, physical, or biological contaminates Bans on indoor smoking

16. © 2010 by South-Western, Cengage Learning The Safe Drinking Water Act Safeguards public drinking water lead 40 million homes have too much lead in drinking water Groundwater: Groundwater: beneath earth's surface

17. © 2010 by South-Western, Cengage Learning The Lead-Based Paint Hazard Reduction Act LBPHRA: LBPHRA: must disclose known lead hazards Causes brain and nervous system damage Requirements: Disclosure of known lead-based paint 10 day risk assessment / inspection period “Protect Your Family from Lead in Your Home” Renovators must provide pamphlet to homeowner prior to beginning work Agents must ensure compliance

18. © 2010 by South-Western, Cengage Learning Radon Invisible, odorless, tasteless radioactive gas Seeps into homes through cracks and holes in the foundation 2 nd to smoking in causing lung cancer Interior levels should not exceed 0.4 pCi/L

19. © 2010 by South-Western, Cengage Learning Carbon Monoxide Colorless, nearly odorless, toxic gas Low levels cause flu-like systems CPSC recommends CO alarms in homes

20. © 2010 by South-Western, Cengage Learning Formaldehyde Raw material used in manufacturing Creates colorless, pungent gas Solutions From opening windows to complete removal of insulation

21. © 2010 by South-Western, Cengage Learning Mold Fungus which can pose health hazards Excluded from insurance policies Landlords, sellers, property managers, & licensee are named as defendants

22. © 2010 by South-Western, Cengage Learning Asbestos Was used in insulation Found when remodeling Expensive to remove Cancer causing material encapsulated When removed - the area must be encapsulated Contained by plastic and removed with high-pressure air machines

23. © 2010 by South-Western, Cengage Learning Going Green New homes: built to conserve energy and be environmentally friendly Items addressed include: Energy performance Durable construction and easy maintenance Air quality Water conservation Impact on land Architectural integrity