Hello to all BP members.
I have a recently purchased rental property in Yerington NV. Yerington just made the top twenty site list for the Super Fund cleanup, due to an abandoned mine at the edge of town. My question is, does anyone have experience in what this designation does to property values and rental demand.
Anything adjacent to the super fund site might decline in value due to the perception of the environmental conditions. Further away it shouldn’t have much impact assuming the area is good from an economic standpoint and the environmental impact doesn’t extend off site (like a groundwater plume that extends for miles).
I live and invest in Yerington and I'm very familiar with the historic Yerington Anaconda Mine. The recent news coverage regarding the Superfund National Priorties List (NPL) is misleading. In fact, it is likely that the EPA will be taking a backseat in favor of a State-led approach.
From the EPA press release: "State request for deferral of final NPL listing decision. Pursue agreement on deferral decision."
A State-led approach is supported by local government, local business, and the overwhelming majority of the local community. In addition to likely causing a faster more efficient cleanup, the potential stigma of a Superfund NPL listing will be deferred and likely eliminated.
Of course there are plenty more details so feel free to PM if you'd like but to answer your question, I have not seen nor do I expect to see property values or rental demand effected by the mine status.
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