Shops at Waterloo Town Square

[Pheidippides]

Staff recommending the City of Waterloo, "authorize the release of $165,000 from the Environmental Clean-up Reserve to conduct a risk assessment in cooperation with the landowner at 95 King
Street South.":
http://calendar.waterloo.ca/Module/Calen...08ed47618f (page 84, map page 88)

"In early 2005, localized soil and groundwater contamination was discovered at the Waterloo Town Square by consultants acting on behalf of the City of Waterloo and WCI Holdings Inc. (i.e. “WCI Inc.”). The subsurface impacts were caused by a historical release of chlorinated solvent compounds from a former land use near the southeast corner of King Street and the Willis Way extension. Although localized in extent, the contamination exceeded applicable provincial standards and required remediation. To support site redevelopment and land exchanges required by the City and WCI Inc., both parties entered into a RAP legal agreement with the Region of Waterloo. The RAP required pre-development clean-up of impacted soils and contained provisions for longer-term remediation of impacted groundwater. A numbered company (1899038 Ontario Inc.) has acquired the real estate at 95 King Street South and is obligated to fulfill the legal commitments originally made by WCI Inc."

"The City and the landowner have a 50/50 cost sharing arrangement in place to jointly pay for the remediation costs."