BP hired a nationally recognized firm to seek redevelopment offers for the site. In all, BP received nine initial offers, five for the entire site and four for smaller parcels, such as the rail yard and the riverfront. Of the five proposals, three provided the most detail. BP selected the proposal it believed was most viable and began negotiations with that entity on a potential sale agreement. Unfortunately, that transaction was not completed.. BP is looking at the other offers, as well as additional proposals that have been made since the original offering, and will continue to engage the City to determine which of these proposals might best meet BP's and the City's long-term goals for this property.
A number of existing businesses operate on the property, especially on the riverfront. These businesses provide jobs and important local sales tax revenues. BP has stayed in touch with these businesses, discussing their leases and working with them to continue to operate in the City.
BP operates a marketing terminal that provides gasoline products to service stations in an approximately 50-mile radius. The terminal employs approximately 25 full-and-part-time employees. Several years ago, the terminal was rebuilt on the south end of the site and the truck entrance moved to reduce truck traffic on busy Route 143.
To date, BP has spent well over $100 million on clean-up efforts, using many different technologies, including petroleum recovery wells that remove an average of 35,000 gallons of petroleum per month. The recovered petroleum is recycled for industrial uses. BP also has employed innovative green clean-up technologies, including phytoremediation and sulfate injections. Click here for more information.
Illinois EPA has approved over 180 acres of the 450 acres as meeting standards and not requiring further cleanup for soils and perched groundwater (water captured in soil pores above the water table). The remaining acres are in the process of being reviewed to determine if further cleanup work must be done or if those areas are ready for potential redevelopment. It is important to note that this determination is made based on the actual conditions in the soil and not simply upon the completion of approved cleanup work.