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EPA, DOJ agreement would further environmental trust

Rochester Business Journal
March 13, 2014

A court filed on Wednesday contains an agreement that, if approved, would satisfy the key condition remain in a settlement that establishes an environmental trust for Eastman Business Park.

The Environmental Protection Agency and the Department of Justice, with the court filing presented the proposed agreement. If approved, it would satisfy the outstanding condition for a settlement among Eastman Kodak Co., the state Department of Environment Conservation and Empire State Development, Kodak said Thursday.

Under the EPA agreement, which is subject to public comment and court approval, the EPA will issue a covenant not to sue regarding past activities at Eastman Business Park. The trust, to be overseen by the DEC, would ensure continued environmental oversight, while addressing environmental obligations into the future, including an extension of the current protections for the site that Kodak has in place with the DEC, company said.

Kodak has agreed to provide $49 million in funding for the trust. In addition, the state has agreed to provide $50 million for further environmental protection if necessary. Kodak and the state will provide additional funds to address any future environmental cleanup if overall costs exceed $99 million.

The agreement also encompasses Kodak’s continuing significant presence at the park, and serves as a lynchpin of further strategic regional and state economic development initiatives around the park, the company said.

 “The environmental trust for Eastman Business Park serves the community’s interest in protecting the environment and strengthening economic development initiatives around the continuing redevelopment of the site,” said Brad Kruchten, president, Graphics, Entertainment and Commercial Films, in a statement.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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