Prospective purchaser agreement

{
  "id": "MLC-T-ENV-022551",
  "term": "Prospective purchaser agreement",
  "field": "Environment",
  "definition": "A legal agreement that protects the prospective buyer of a hazardous waste site from the liability associated with pre-existing contamination at the site. In return for liability protection, the buyer must advance environmental and/or community benefits (i.e., performing cleanup activities, reimbursing EPA for a portion of their cleanup costs, creating jobs, rehabilitating the property, participating in community revitalization). PPAs often enable redevelopment plans to be integrated into the cleanup activities at the site and ensure the long-term maintenance and operation of the cleanup.",
  "abbreviation": "PPA",
  "subject": "Health and safety",
  "references": [
    "Superfund Reforms Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/prospective-purchaser-agreement/"
}