Dear Editor:

The EPA is about to promulgate a set of rules that in my opinion will do more to destroy the value of homes on Long Island then the subprime mortgage disaster. The basic rule states that all homes built before 1978 will be deemed a toxic site until tested and abated. Thismandate goes into effectApril 22. The law contains no way to compensate owners for the destroyed value of their home. There is nothing in the law mandating towns to lower your assessment and property taxes in proportion to your lost home value.

On Long Island where so much of our wealth is invested in our homes the new Lead Paint Abatement Rules will destroy the wealth cobbled together over many years through hard work and investment. The new mandate will make homes built before 1978 potential “Brownfield sites” as far as the real-estate market is concerned.

If you want to take advantage of the government Energy Star Program you will need to have your home tested for lead. If lead is found the abatement process will cost just about the equivalent of an asbestos removal project which could run into the thousands of dollars.

If you were counting on a reverse mortgage to allow you to live out your golden years on Long Island, this will surely deter investors from investing in pre- 1978 homes? Were you planning to sell your home to move to a nice senior residence? If so who will buy an EPA classified toxic site? Are you going to be able to convince a bank to give you a home equity loan to help put your children through college? The EPA has gone too far when they look to destroy everything we have worked so long for and counted on as our major source of wealth.

As a home owner who owns a pre-1978 home and a contractor for more than 40 years I have never seen anything that will destroy what we have all worked for like these new unfunded mandates. We need to tell our representatives to stand up to the EPA and stay out of our homes.

Daniel Coyne West Babylon