24004_Seventh Street Properties_LOE_2020.3.27 signed

March 27, 2020
Sent Via USPS and email
Mr. Blake Bickmore
Crescent Acquisitions, LLC
227 W. Trade Street, Suite 1000
Charlotte, NC 28202
[e-mail]
Subject: Letter of Eligibility
Seventh Street Properties
1924, 1926, 1936, 1940, 1942, 1950, and 1958 East 7th Street
Charlotte, Mecklenburg County
Brownfields Project Number 24004-20-060
Dear Mr. Bickmore,
The North Carolina Department of Environmental Quality (DEQ) has received and reviewed your
January 15, 2019 Brownfields Property Application (BPA)) submitted by McGuireWoods LLP on behalf
of Crescent Acquisitions, LLC as a Prospective Developer seeking a Brownfields Agreement regarding
the Brownfields Property. Upon review of the BPA and associated documents with respect to the
requirements of the Brownfields Property Reuse Act of 1997, DEQ has determined that this project is
eligible for entry into the North Carolina Brownfields Program (NCBP) and for continued evaluation for a
Brownfields Agreement (BFA).
The next step in the BFA process will involve a detailed review of available environmental and
other relevant data to determine what is currently known about contamination at the Brownfields
Property, and what, if any, information gaps may exist that may require additional assessment. We are in
receipt of the following documents submitted with your BPA:
Report Prepared By Date
Phase I Environmental Site Assessment ECS Southeast, LLP March 1, 2019
Limited Environmental Sampling Services
Report
Geoscience Group October 20, 2017
If available, historical Brownfields Property information from the files of DEQ’s Division of
Waste Management will also be utilized during the evaluation process. Please forward any additional
information including letters of support or data you may have or can acquire for our evaluation. This
should include reports from other DEQ agencies or regional offices. We will contact you regarding any
additional assessment that may be necessary to establish that the Brownfields Property is or can be made
suitable for the intended reuse, as required by statute.
Seventh Street Properties
March 27, 2020
Page 2
According to the BPA, the intended redevelopment for the Brownfields Property is for a
multistory office building with ground floor retail and associated parking. Because risk management
decisions may vary depending on the nature of the redevelopment, it will be important that DEQ review
the locations of the various elements. Please forward any maps or drawings indicating these details, even
if they are only preliminary or conceptual.
Please note: pending execution of a final BFA, NCBP eligibility is provisional. The protections a
BFA offers the Prospective Developer are not in effect, unless and until, the BFA is executed. If you
occupy the Brownfields Property or operate or conduct activities at the Brownfields Property that result in
a release of regulated substances before a BFA has been finalized for the Brownfields Property, you may
be considered to have caused or contributed to contamination at the Brownfields Property. Because an
entity that could be considered to have caused or contributed to contamination at the Brownfields
Property cannot be a Prospective Developer under the Act, your eligibility for participation in the NCBP
would be placed in jeopardy. Consult closely with your Project Manager regarding any planned site
activities prior to agreement finalization. You are cautioned to conduct all such operations and activities
at the Brownfields Property with great care not to cause a release of regulated substances at the
Brownfields Property that could jeopardize your eligibility for participation in the NCBP.
If a party other than Crescent Acquisitions, LLC will own the Brownfields Property at the
conclusion of the brownfields process, the final document (which gets recorded at the register of deeds’
office) must be signed not only by Prospective Developer, but by that owner. Failure by the Prospective
Developer to ensure, by the time the BFA negotiations are complete, the willingness to sign of any such
party, and to provide DEQ the exact name, email address, telephone number, and US mail address of the
party (along with the signatory/signatory’s tile in the case of an entity) will delay, and could prevent, the
BFA taking effect.
We are excited about the potential for public benefit offered by the reuse of the Seventh Street
Properties property and look forward to working with you to advance this brownfields redevelopment
project. If you have questions about this correspondence or require additional information, please feel
free to contact the project manager Carolyn Minnich by phone at 704-661-0330, or by e-mail at
[e-mail].
Sincerely,
Bruce Nicholson
Brownfields Program Manager
ec: Central Files, DEQ
Ellen Lorscheider, DEQ
Carolyn Minnich, DEQ
David Franchina, McGuireWoods LLP
Christopher Orrell, ECS Southeast LLP