Bank of America Applauds EPA Brownfields Initiative.CHICAGO--(BUSINESS WIRE)--July 26, 1995--Bank of America today applauded EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. Administrator Carol Browner's announcement of 15 U.S. cities as pilots for the Environmental Protection Agency's new Brownfields Action Agenda to spur inner city development. "Brownfields" refers to abandoned, idled, or under-used industrial and commercial property where expansion or redevelopment is complicated by real or perceived environmental contamination. The EPA's new Brownfields Action Agenda, in conjunction with pending legislation, will help protect new owners or developers of potentially contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. property from Superfund liability. "If the communities are able to attract viable economic projects to brownfield sites, jobs will be created in existing urban areas rather than at the urban fringe, which will bring a stronger tax base and more efficient use of infrastructure," said William M. Goodyear, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Illinois, which is leading the brownfields effort for Bank of America. "The Brownfields Action Agenda can help Bank of America support our strong commitments to community reinvestment and environmental preservation Environmental preservation is the strict setting aside of natural resources to prevent the use or contact by humans or by human intervention. In terms of policy making this often means setting aside areas as nature reserves (otherwise known as wildlife reserves), parks, or other ," Goodyear said, "We look forward to exploring ways to bring brownfields into productive use." Bank of America has been working actively with potential brownfields redevelopment in Chicago. "This initiative is an excellent opportunity to work together with state, city and federal agencies and, most importantly, with the local community toward a goal that will benefit all of us," Goodyear said. "We applaud the initiative of the EPA to streamline unnecessary regulation and support economic development and job creation in the inner city." Goodyear noted that if financial institutions are to provide financing to otherwise creditworthy cred·it·wor·thy adj. Having an acceptable credit rating. cred  it·wor brownfield sites, legislation would be required at the federal and state levels to clarify the liability of lenders and fiduciaries. "There is tremendous potential in getting brownfields back into productive use and we would like to play a role," Goodyear said, "but that role will be limited as long as the liability issue is hanging over us." CONTACT: Bank of America Russ Yarrow yarrow, a plant of the genus Achillea, perennial herbs of the family Asteraceae (aster family), native to north temperate regions. Several species are cultivated as ornamentals for their flat-topped clusters of flowers and scented foliage. , 415/953-1411 |
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