Proposed Changes To Part 375 Remedial Program Regulations: Implications For Real Estate Developers And Their Financing Institutions

On February 14, 2024, NYSDEC (the Department) issued a Notice of Proposed Rulemaking for amendments to its regulations at 6 NYCRR Part 375 (Part 375), which govern New York State remedial programs, including the Inactive Hazardous Waste Disposal Site Program (State Superfund), the Brownfield Cleanup Program (BCP), and the Environmental Restoration Program. The public can submit written comments on the proposed Part 375 amendments until 8:00 p.m. on May 21, 2024. However, when NYSDEC will promulgate final Part 375 regulations following the public comment period is still unknown.

These proposed regulatory revisions mark a continuation of NYSDEC's efforts to amend Part 375, which began in December 2021. The current proposal reflects feedback received from various stakeholders following the initial proposal; however, many provisions remain unchanged. A discussion of certain noteworthy changes to the Part 375 regulations that are expected to have significant impacts on