real estate principles and practices chapter 18 environmental issues and real estate © 2014...

Real EstateReal Estate Principles and Practices Principles and Practices

Chapter 18Chapter 18

Environmental Issues and Environmental Issues and Real EstateReal Estate

© 2014 OnCourse Learning


Key TermsKey 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


Key TermsKey Terms

RCRA

Safe Drinking Water Act

Superfund

SARA

Underground storage tanks

Wetlands


OverviewOverview

Laws passed to protect public Laws passed to protect public health and welfarehealth and welfare

Pollution through population Pollution through population growth and development can growth and development can be minimized by the lawbe minimized by the law


Outdoor Pollution IssuesOutdoor Pollution Issues

Air Quality Act of 1967Air Quality Act of 1967

Protects and controls air pollution

Amended 1970: established quality standards

Effect on small industries


The National Environmental The National Environmental Policy Act (NEPA)Policy Act (NEPA)

EncouragedEncouraged protection to reduce future damageprotection to reduce future damage

Created and Funded by:


The Flood Control ActThe Flood Control Act

• Regulations to control Regulations to control erosion, preserve wildlife erosion, preserve wildlife habitats, and shelter habitats, and shelter marine lifemarine life


The Flood Control ActThe Flood Control Act

Coastal Zone Management Act ofCoastal Zone Management Act of

An incentive program to coastal states

states are required to set regs to protect beaches, to preserve wildlife habitats, and to shelter marine life

State are granted jurisdiction over these zones


The Clean Water ActThe Clean Water Act

Army Corp of Engineers Army Corp of Engineers issues permits regulating issues permits regulating “discharge of dredged or “discharge of dredged or fill material into navigable fill material into navigable waters.”waters.”

Wetlands: Wetlands: areas covered by areas covered by surface or ground water surface or ground water sufficient to support sufficient to support vegetation adapted for life vegetation adapted for life in saturated soil conditions in saturated soil conditions


The Resource and Recovery The Resource and Recovery Act (RCRA)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


The Resource and Recovery The Resource and Recovery Act (RCRA)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 TanksUnderground Storage Tanks


The Comprehensive Environmental The Comprehensive Environmental Response, Compensation, & Liability ActResponse, Compensation, & Liability Act

CERCLA: AKA Superfund: CERCLA: AKA Superfund: programs to clean up hazardous waste sites

Superfund Amendment and Superfund Amendment and Reauthorization Act (SARA): Reauthorization Act (SARA): former and current owners must pay for toxic cleanup



LandfillLandfill sites are reclaimed by landfill reclamationlandfill reclamation

NIMBY: “not in my back yard.”

Mining LandfillsMining Landfills



Brownfields:Brownfields: vacant industrial and commercial sites often containing hazardous waste

Brownfield legislation - redevelopment

BrownfieldsBrownfields



EMFs: EMFs: deterrent in selling a house

View

No evidence of causing cancer

Electromagnetic FieldsElectromagnetic Fields


Indoor Pollution IssuesIndoor Pollution Issues

Chemical, physical, or biological contaminates

Bans on indoor smoking


The Safe Drinking Water ActThe Safe Drinking Water Act

Safeguards public drinking water

40 million homes have too much leadlead in drinking water

Groundwater: Groundwater: beneath earth's surface


The Lead-Based Paint Hazard The Lead-Based Paint Hazard Reduction ActReduction Act

LBPHRA: LBPHRA: must disclose known lead hazardsCauses 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


RadonRadon

Invisible, odorless, tasteless radioactive gas

Seeps into homes through cracks and holes in the foundation

2nd to smoking in causing lung cancer

Interior levels should not exceed 0.4 pCi/L


Carbon MonoxideCarbon Monoxide

Colorless, nearly odorless, toxic gas

Low levels cause flu-like systems

CPSC recommends CO alarms in homes


FormaldehydeFormaldehyde

Raw material used in manufacturing

Creates colorless, pungent gas

Solutions

From opening windows to complete removal of insulation


MoldMold

Fungus which can pose health hazards

Excluded from insurance policies

Landlords, sellers, property managers, & licensee are named as defendants


AsbestosAsbestos

Was used in insulationFound when remodeling

Expensive to remove

Cancer causing material

When removed - the area must be encapsulatedencapsulated

Contained by plastic and removed with high-pressure air machines


Going GreenGoing Green

New homes: built to conserve energy and New homes: built to conserve energy and be environmentally friendlybe environmentally friendly

Items addressed include:Items addressed include:

Energy performanceEnergy performance

Durable construction and easy maintenanceDurable construction and easy maintenance

Air qualityAir quality

Water conservationWater conservation

Impact on landImpact on land

Architectural integrityArchitectural integrity

real estate principles and practices chapter 18 environmental issues and real estate © 2014...

Documents

oncourse learning slide

liability act brownfields

liability act cercla

available slide

law slide

reauthorization act

flood control act regulations

marine life slide