Elmira Pump wants to build several industrial store front properties at the former Varnicolor site.
The redevelopment plans come almost two decades later after the company was found guilty of dumping chemical waste.
The landowners, Elmira Pump, now hope to start the development at First and Union Streets.
The Ministry of the Environment and Climate Change mandated the company to publically present a risk assessment of the property at a meeting Thursday night.
The results of the study showed that the two top layers of the ground no longer contaminated, but the upper municipal aquifer still had a number of contaminates that are above drinking water standards.
Elmira Pump says that poses no real risk to any development on site since drinking water isn’t being pumped from that aquifer.
The ministry still has to review the assessment before a next step can be determined.
