Bankers explain how they make SBA lending work for them.



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GLE Stormwater Management Plan for Foreclosure Properties

GLE has created an awareness campaign and program to assist lenders with their foreclosed properties in violation of the Florida Department of Environmental Protection’s National Pollutant Discharge Elimination System Permit and Florida’s Water Management District’s Environmental Resource Permit.

During construction, the contractor must comply with the requirements of both the NPDES permit and the ERP. Both agencies can and do perform site inspections and assess fines for violations. For all practical purposes, the requirements are the same. At the completion of construction, a Notice of Termination is submitted to the FDEP and a written Statement of Completion and Certification and Request for Transfer to Operation are submitted to the WMD.

Unfortunately, on sites where construction is partially completed, but has stopped, compliance with these requirements does not end, and compliance by a new owner is often not easy or straightforward. Also, failure to comply could result in large fines for lenders.

GLE has developed a process for the evaluation and stabilization of foreclosed properties that meets the regulatory requirements in a cost-effective manner, which reduces the liability for lenders that own the foreclosed properties. This program was also duplicated in Georgia and heavily used by BB&T.

GLE Associates Inc.
www.gleassociates.com

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