New Mexico’s Voluntary Remediation Program (VRP) provides incentives for the voluntary remediation of contaminated properties and encourages their redevelopment.
Participants who successfully complete the program receive site closure documentation from NMED and liability protection for lenders and future purchasers.
Who should consider the VRP?
You may want to consider the VRP if you own a property that has contamination, or a property that may be perceived to have contamination. Participating in the VRP will allow you to clarify and address contamination issues so that you can proceed with your plans for the property.
If you are considering purchasing a property that has contamination issues, participating in the VRP will mitigate the risk of future unknown liabilities for both you and your lender. The VRP is also worth your consideration if you operate or plan to operate a facility at a potentially contaminated site.