Phase I Environmental Site Assessments (ESA) Phase I Environmental Site Assessments (Phase I ESA’s) are conducted in accordance with ASTM 1527. ESI’s Phase I ESA’s are performed by Environmental Professionals who meet the requirements contained in EPA’s AAI Standard. The Phase I ESA is a key component of the due diligence process for lending and property acquisition.
A Phase I ESA includes a site visit and a historical and regulatory review that is designed to identify environmental issues such as current and historic environmental conditions that may affect property values, pose a financial liability to the purchaser or lender, or affect the ability of a borrower to repay a loan obligation. Clients may also obtain a Phase I ESA in order to satisfy requirements of the “innocent landowner defense” or other available defenses to environmental liability under CERCLA. ESI tailors the Phase I ESA scope to the client’s needs, as well as the individual lending requirements of the financial institution or governmental agency (SBA, HUD, Fannie Mae or Freddie MAC).