Environmental Due Diligence
ASTM Phase I Environmental Site Assessment
Potential environmental liability has become a key factor in commercial property transactions. An increasing number of states are mandating environmental inquiry during commercial or industrial property title transfer. In the private sector, many large corporations and financial institutions require different levels of environmental disclosure prior to property acquisition or underwriting and purchases.
The recognition of property contamination can have several consequences:
• Property values can be significantly depressed below market value,
• Financing and/or insurance cannot be obtained,
• Site clean-up costs may exceed property value.
Phase I ESAs are intended to provide insight into the past and current uses of a property as they relate to environmental contamination. This information can be utilized by potential buyers and/or lenders to alleviate their responsibility during environmental clean-up processes.
We perform Phase I ESAs in accordance with ASTM Standard E 1527-13. This includes performing a physical review of the site (including facilities, activities and practices), investigating past and present usage, identifying previous and existing on-site structures and owners, reviewing all documentation (i.e. aerial photographs, city directories, historical documentation, government records, etc.), evaluating site characteristics and adjacent properties. All information is summarized into a comprehensive Phase I ESA report communicating environmental risks on and adjacent to the site. If the Phase I ESA uncovers known or unknown contamination, Family Environmental will assist the client in determining a plan of action for a follow-up Phase II ESA.
Phase II Environmental Site Assessment
Where a Phase I ESA indicates the need for further investigation, we can provide Phase II ESA services. Phase II ESAs are performed in order to determine the extent of suspected contamination and to estimate remediation costs for the potential buyer of the property. During a Phase II ESA, we conduct all necessary drilling and/or excavation associated with soil and groundwater investigation in order to determine the extents of contamination as well as analytical testing in order to properly contaminated media. Phase II ESAs may also assist in the location of underground storage tanks and other subsurface storage reservoirs. In addition, we may install groundwater observation wells as needed in order to monitor groundwater contamination.
Our staff is experienced in hazardous materials identification and works to inspect and sample all potentially impacted media and submit their findings to the laboratory for testing. Upon receipt of the laboratory data, Family Environmental is able to draft detailed reports that define the extent of known contamination and provide both recommendations and estimated associated costs for remediation. Furthermore, we are well versed in Federal and State regulations regarding hazardous materials, which allows us to inform our clients of recommended levels of various contaminants and assist them with the necessary permitting and agency notifications.