An environmental assessment, including Phase I and Phase II Environmental Assessments, is a key component of many property evaluations. These investigations establish the baseline conditions of a property so that the new owner cannot be held liable for preexisting environmental issues. They also uncover environmental risk factors that may require remediation.
Phase I Environmental Assessment
Phase I Environmental Site Assessments (ESAs) are performed in accordance with the EPA All Appropriate Inquiry (AAI) Rule and . These guidelines are straightforward standards that allow us to identify potential environmental liability. We do this by assessing the current and historical use of the property and adjoining properties. Phase I investigations include several steps:
- Historical property records review and land-use research
- Interviews with current and previous owners and occupants
- Site inspection and review of current property operations and conditions
- Regulatory environmental records, file, and database reviews
- Level 1 vapor encroachment and intrusion assessments
- Identification of Recognized Environmental Conditions (RECs), Historical RECs (HRECs) and Controlled RECs (CRECs) or other conditions indicative of potential environmental impact and financial liability
- Opinions and recommendations regarding the findings of the assessment
Phase II Environmental Assessment
Based upon the results of the Phase I assessment, further evaluation may be recommended. If necessary, our Due Diligence and Assessment Department will begin a Phase II environmental site assessment. The investigation will include sampling and laboratory analysis to confirm the presence or absence of hazardous materials in the site’s subsurface.
Need an environmental assessment? Email our due diligence team at email@example.com, and someone will get back to you shortly.
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