Responsible parties accept the obligation to maintain land use controls (“LUCs”) and engineering controls (“ECs”) over the long-term when they elect to address environmental conditions at sites using a risk-based remedy. The environmental agencies do not mandate the use of LUCs and ECs in selecting a remedy, but are required by law to approve such controls when the agencies determine that the controls provide adequate environmental protection. Therefore, the responsible party’s decision to proceed in this manner is predicated on understanding the costs associated with that choice and the long-term nature of the assumed responsibilities . The consequence of selecting a risk-based or site-specific remedy is that the liability protection obtained by the responsible party is conditional — it depends on the long-term maintenance of the LUCs and ECs approved as part of the remedy. By definition, this compels a long-term post remediation involvement with a property that most responsible parties do not want.

The Guardian Trust assumes the responsible party’s obligations to assure the long-term stewardship of LUCs and ECs, not as a substitute with respect to the environmental agencies’ enforcement authority, but as an entity legally positioned and obligated to perform the stewardship role and report to the environmental agencies. The Guardian Trust will accept a property right from the property owner consistent with property law of the state in which the site is located, and thereafter carry out the responsible party’s long-term stewardship obligations. The ability of a responsible party to transfer these obligations to The Guardian Trust, a single-purpose entity formed to serve as a steward for LUCs and ECs, enables responsible parties to satisfy long-term obligations on a cost advantaged basis due to the economies of scale offered by the Trust. Responsible parties may achieve additional cost savings by reducing or eliminating the drain on internal resources responsible for the long-term management of LUCs and ECs. Thereafter, properties can be redeveloped and transferred with the confidence and assurance that environmental conditions remaining on remediated sites will be properly monitored and managed. As a result, The Guardian Trust serves as a major facilitator in the purchase, sale and redevelopment of contaminated real estate.