The Dirt: Understanding the Coeur d'Alene Work Trust
Courtesy photo
The cleanup work being done in the “Basin” of the Bunker Hill Superfund Site is funded in a unique and sustainable way. When a potentially responsible party is identified at a Superfund Site, the EPA works to pursue all sources of funds to ensure the responsible party pays for cleanup and not taxpayers. In 2009, ASARCO applied for bankruptcy, allowing the EPA to pursue environmental claims resulting in a settlement that must go toward environmental cleanup and restoration at the Bunker Hill Superfund Site. The settlement from the bankruptcy was placed with the Coeur d’Alene Work Trust to support cleanup work for this area.
The Trust is a product of that ASARCO settlement and is an environmental remediation trust that allows the management of settlement funds while also paying for environmental remediation. Its beneficiary is the Environmental Protection Agency, with assets mainly consisting of money and properties. This collaborative effort is highly effective as both parties work together to complete the cleanup work. Their procurement process uses the marketplace to achieve the best value possible. EPA decides what environmental actions the Trust undertakes and approves their annual budget which currently stands at $30 million a year. The Trust and EPA have settled on a 10-year prioritization and planning tool, meeting several times a year to talk about future challenges and how best to proceed.
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