Funding a California Superfund site with minimal state or federal money

The remediation of abandoned waste sites is a difficult task with limited funding from local, state and federal governments. It has become necessary for site managers and property owners to locate novel sources of funding and services to remediate these sites. An example of such a site is Pacific States Steel Corporation (PSSC) in Union City, California. PSSC abruptly closed its doors in 1978. The former employees (pensioners) of PSSC, won a civil suit in Federal Court for reinstatement of their medical benefits. The Federal Court took control of PSSC`s largest remaining asset: a 93 acre site which was covered with slag, dilapidated buildings, a petroleum contaminated cooling pond, asbestos, PCBs, 800 barrels containing unknown fluids, heavy metals, non hazardous solid waste, and other wastes. A court-appointed Special Master submitted to the Court a plan to clean up and develop the 93 acre site to its highest and best use in order to pay the pensioners and other creditors. Total cleanup costs were estimated at over $30 million. Currently, approximately 31 acres are ready for development and 62 acres have all but two structures removed. All above ground waste streams have been remediated or contained.