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Environmental Site Assessment
Environmental Site Assessments
(Phase I and Phase II) can assist you in assessing potential
environmental liabilities associated with real property
acquisition and ownership. Information obtained
through environmental site assessments can greatly impact
the economics of a property transaction, affecting the
owner, buyer, seller and lender.
Federal, state and local laws
make current and prior property owners or managers
potentially liable for the entire cost of cleaning up a
contaminated site. With new laws in effect in many locales,
financial institutions, facilities managers and real estate
managers are instituting procedures and guidelines to assess
the status of a property with regard to environmental laws
before a property transaction. With municipalities
requiring an environmental assessment before the issuance of
a construction permit, the site assessment process can save
considerable money and prevent costly delays associated with
agency-mandated cleanup operations.
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Typical Phase I Site Assessment Services include:
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A physical survey of the
property and surrounding properties to assess general
land use and occupants of the area; |
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An on-site visual
inspection of the site to identify recognized
environmental concerns. |
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A review of data regarding
the local geology and hydrology; |
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An assessment of current
and past uses and practices of the property with
particular attention given to assessing if any hazardous
material or waste practices have occurred at the site. |
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As assessment of the
historic land use and development of the property
through an interpretation of fire insurance maps, city
directories, and/or aerial photographs of the site and
interviews with persons knowledgeable of the site
history; |
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A review of owner/operator
records; and |
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A review of local, state,
and federal regulatory agency records maintained for the
site. |
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A written report of all
findings including recommendations and conclusions. |
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II Site Assessments
Phase II Site Assessments are recommended by Phase I Site
Assessments, if necessary. They provide a more comprehensive
and detailed review of a site and a facility to further
evaluate suspected environmental impairments and the extent
of surface and subsurface contamination. A Phase II
assessment qualitatively confirms environmental impairments
and liabilities resulting therefrom, and yields basic
projections of remediation costs. This information may be
used in negotiating the terms and conditions in a particular
property transaction.
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GBK and Benchmark
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