Environmental Site Assessments
A PHASE I ENVIRONMENTAL SITE ASSESSMENT (ESA) is a qualitative assessment intended to help owners of property satisfy one of the requirements to qualify for CERCLA’s innocent landowner defense. Since the mid-1980s, it has also been incorporated into the environmental policies of most lending organizations as a requirement of any loan application involving a parcel of commercial real estate. Our Phase One ESA reports adhere to the new American Society for Testing and Materials (ASTM) Standard E-1527-13 as well as the Small Business Administration (SBA) Standard Operating Plan 50-10 (5). This is the type of environmental report required by FDIC-member banks, and most other lending institutions.
Even if you are paying cash for a property, we highly recommend ordering a Phase 1 report prior to purchasing a property. Our Phase I Reports identify environmental conditions prior to entering into a contract for sale, re-financing, or option agreement, and ultimately to assist property owners to choose a site that presents manageable environmental risks