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Environmental trust for Eastman Business Park set

Rochester Business Journal
May 20, 2014

Arrangements have been completed for Eastman Business Park’s $99 million environmental trust, officials said Tuesday.

Eastman Kodak Co. is providing $49 million for the trust, and New York will contribute $50 million to satisfy concerns from federal regulators. Kodak and the state will provide additional funds if cleanup costs exceed the trust fund amount, officials said.

The fund will be managed by the state Department of Environmental Conservation.

The DEC has approved Kodak’s selection of Chicago Trust & Title Co. as trust administrator, officials said.

“The trust serves the community’s interests in protecting the environment while strengthening economic development initiatives around the continuing redevelopment of the site,” Bradley Kruchten, president of Kodak’s Graphics, Entertainment Commercial Films group, said 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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