Using risk assessment to achieve cost‐effective property transfers and site closures for former UST sites

Abstract

AbstractRisk assessment has been increasingly applied as a tool in making risk management decisions that affect cleanup of contaminated sites, property transactions, and liability issues. As a site‐specific evaluation, risk assessment takes into account the unique characteristics and intended future uses for site property in evaluating chemical concentrations which may remain in place without risk to public health and the environment. The results of a risk assessment can be used to determine reuse options for a property, facilitate site closure, and reduce liabilities (Copeland and Robles, 1994; Copeland et al., 1993a).This article describes the risk assessment process, the role of risk assessment in determining the need for remedial action and identifying site‐specific cleanup goals, and the cost effectiveness of applying risk assessment in remedial decisions. Because of the prevalence of former UST sites throughout the United States, this article focuses on risk assessment and remediation of UST sites. However, the process can be applied at sites where other chemicals have been released. Three case studies are presented to illustrate the application of risk assessment in achieving cost‐effective site closure at sites containing leaking underground storage tanks.