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Settlement Finalized at Mohawk Tannery Site in Nashua, N.H.

Release Date: 08/29/2006
Contact Information: David Deegan, (617) 918-1017

(Boston, Mass. – August 29, 2006) - Federal and State officials have reached an agreement with Chester Realty Trust, the owner of the Mohawk Tannery Site, and Warren Kean to contribute to the cleanup of the site which is located in Nashua, N.H. The agreement will generate at least $500,000 towards the cleanup of the site.

All funds received by EPA from this settlement will be put into an account earmarked for use at the Mohawk Tannery site. In return, Warren Kean and Chester Realty Trust will be released from any further EPA or State of New Hampshire costs associated with the site, and will receive protection from potential contribution lawsuits by other liable parties.

Included in the agreement, which was subject to a 30-day public comment period in the early summer, are the following details:

- The parties will contribute at least approximately $418,000, and possibly up to $1.2 million, of recovered insurance proceeds to the cleanup of the site;

    - Mr. Kean will make three annual payments of $25,000 to EPA and the N.H. Dept. of Environmental Services (NH DES);

    - Chester Realty Trust will transfer the Mohawk Tannery property as well as three additional parcels of land to a government designated entity or market the three properties and transfer all proceeds from the sales to EPA and NH DES;

    - Chester Realty Trust will provide access to the property and record an easement with the land records office granting access to EPA and NH DES and the right to enforce use restrictions on the property; and

    - Within thirty days of the effective date of the settlement, Mr. Kean and Chester Realty Trust will stop leasing the Mohawk Tannery Property to tenants or otherwise allowing others to use the property for any reason.

    More information on the Mohawk Tannery site []

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