[UPDATE BELOW] This week the Gowanus Canal will be designated a Superfund site, according to Courier Life. An employee for the agency told them, “If you asked me to put money on it, I think they will announce on Thursday." However, the EPA is set to make an announcement to the press today at 10 a.m. Once the call is officially made, expect the Toll Brothers to toss aside any development plans they had for the area (the Superfund process takes 10-12 years), and for the mayor to have a big sad. A public meeting will be held this Thursday at 7 p.m. at PS 58 in Brooklyn. [via Curbed]

UPDATE:The Brooklyn Paper confirms the rumors; the Canal will be Superfunded. Judith Enck, the EPA’s regional director, "started her statement by declaring that taxpayers should rest easy that the feds went with a Superfund designation, which sets into motion a process of getting restitution from responsible polluters." She also likened the situation to the Hudson River, which was declared a Superfund site decades ago, saying, “Back then, no one would have lived on the banks of the Hudson. But we made a massive commitment and now people flock to recreate and live on the shoreline." Even bald eagles!