The method determines that land is not cost effective to remediate if the cost of remediation would be greater than the value of the land as set out in para 8.1 of the Cabinet Minute. While not the only criteria for deciding whether land is to be zoned Red or Green, the method does tackle the financial part which is the primary reason for the designations.
What follows is extracted from para 8.1 of the Cabinet Minute of the 15th of August. A copy can be downloaded here.
Determining the cost of remediation This cost is determined by adding the first three items in the list, then subtracting the fourth.
Cost of land reinstatement to pre-September condition plusThe betterment cost (i.e. perimeter treatment a…