RACER Trust Transaction Manager to Discuss Redevelopment at 2019 State of the Bay Conference
RACER Trust today announced that Transaction Manager Steven Black will be part of a panel discussing brownfield redevelopment and waterfront property recovery at the 2019 State of the Bay Conference, presented by the Saginaw Bay Watershed Initiative Network.
The one-day conference, which takes place September 26 in Bay City, Mich., has a number of educational programs related to economic development and environmental stewardship in the Saginaw Bay Watershed.
Mr. Black will be joined on his panel by other subject matter experts from the public and private sectors. His focus will be on how RACER Trust has successfully implemented its remedial and redevelopment strategies at several locations in Michigan, resulting in new investment and jobs for communities that were hard hit by the loss of manufacturing jobs, and how the principles that guide RACER Trust can be applied to any brownfield redevelopment opportunity.
“RACER Trust has deep experience in the successful preparation of brownfield properties for beneficial reuse, and we welcome the opportunity to share our knowledge and insights broadly,” said Elliott P. Laws, of EPLET, LLC, Administrative Trustee of RACER Trust. “It is our hope that, by sharing what we have learned, we will help others who are struggling with a way forward for underutilized properties, while at the same time gathering new ideas that will help us continue to be successful.”
To date, RACER Trust has completed more than 70 property transactions, resulting in development agreements for more than $2.2 billion in private investment and 16,000 jobs.
The Saginaw Bay Watershed Initiative Network is a community-based, voluntary initiative that connects people, resources, organizations, and programs. It works to improve the quality of life in the region by developing projects, supporting related organizations and developing the region’s identity as a sustainable community.
About RACER Trust: RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. RACER is one of the largest holders of industrial property in the United States, and when it was formed was the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.