BP and Paulsboro reach lease agreement
PAULSBORO, NJ (January 26, 2005) -- BP and the Borough of Paulsboro announced today they have entered into a cooperative agreement on a 130-acre property where BP previously operated a petroleum products and specialty chemical bulk storage and distribution terminal. Through a long-term lease, the agreement paves the way for the Borough to pursue re-development of the property on the lower Delaware River into a port and commercial/industrial park. The agreement also provides for the continuation of BP’s environmental remediation work at the site.
“This agreement is a model of the type of things that can happen when there is a cooperative working relationship between business and government,” said Paulsboro Mayor John Burzichelli. “It will allow us to return this long-dormant property back into productive asset for future generations of people in Paulsboro and Gloucester County.” Richard Frankoski, Atlantic Richfield Regional Manager, Eastern US, for BP’s remediation activities, agreed. “This accord is a clear and important example of BP’s commitment to our on-going environmental restoration activities,” Frankoski said. “It also promotes new opportunities that will help turn this property back into a sustainable and productive asset for the community.”
Under the terms of the agreement, the Borough will lease roughly 124 acres for 90-years, at $1 per year. BP will retain a 6-acre parcel to continue managing groundwater and soil cleanup activities at the site. BP also will continue to operate its 276kW solar field on 15 acres of the adjacent former Essex Chemical property (the solar field powers roughly 30 percent of environmental activities at the site). The agreement also calls for BP and the Borough to work together on the details of future land use plans for the site to promote environmental enhancements.
“This parcel is the only available large property in all of Paulsboro for redevelopment use,” said Burzichelli. “This agreement is a home run as it lays the groundwork for us to redevelop the site, which will bring in additional jobs and tax revenues to the area.”
For more information, contact:
John Curry, BP Public Affairs Director, at 410-825-4287; or, John Burzichelli, Paulsboro Mayor and NJ Assemblyman (D-3rd) at (856) 251-9801
