The barrels or drums, originally dumped in the 1960s in a part of the forest that is in Bullitt County, contained solvents from the painting and varnishing industry.
The goal is to help improve the quality of life for those living in the city's west end.
The Rubbertown-area project will look at air pollution and do wastewater sampling.
Louisville Mayor Craig Greenberg and other officials gave a what they called a final update on the Applegate Lane site Thursday morning.
It has been a slow process on Applegate Lane, as heavy machinery continues to remove the home piece by piece.
Last month, a judge lowered Marc Hibel's bond, allowing him to post $10,000 and be released on HIP as long as he undergoes in-patient mental health and addiction treatment for two weeks.
The EPA began the demolition process by removing structural parts of the home.
Leaders said crews will remain on site as a precaution, but they do not foresee people needing to leave their homes.
Officials with the EPA will talk about the plans, which they said include a controlled and mechanical approach to demolishing the home.
“We will have full control of that site here shortly,” said James Pinkney, a spokesman for the EPA.