Real estate transactions require timely and accurate information on environmental, health and safety problems. Enviro-Sciences can provide a thorough review of existing and past practices at a facility, and can assess the potential for environmental, and health and safety problems.
Enviro-Sciences’s personnel have inspected business and properties worldwide,and are able to provide necessary information within the most demanding transaction schedules. Enviro-Sciences has conducted thousands of due diligence site investigations that have included numerous services.
Call on Enviro-Sciences for These Types of Assessments
Phase I Environmental Site Assessments
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 done by Environmental Professionals who meet the requirements of the 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).
The scope of a Phase I ESA includes the following:
• Subject Property Reconnaissance by an Experienced Environmental
• Professional Adjacent/ surrounding reconnaissance
• A review of historical documentation (i.e. fire insurance maps, city directories, topographical maps and aerial photographs)
• A review of hazardous material and petroleum product storage, spill and disposal records
• Review of local, regional and state agency files Interviews with the property owner, tenants and property managers
• A preparation of a report documenting the findings, conclusions and recommendations
• Asbestos, lead and mold evaluation (on request)
Additions to the Phase I ESA reports can include:
• Wetlands review
• Flood Zone
• Evaluation for mold, asbestos, lead‐based paint, and/or radon
• Environmental lien search and Chain of Title review
Environmental Transaction Screen
An Environmental Transaction Screens (ETS) is a cost effective alternative approach to a Phase I Environmental Site Assessment. Conducted in accordance with ASTM 1528 the ETS consists of a limited scope of work and is designed to assess the environmental condition of commercial real estate.
An ETS is recommended for low risk property types or properties with extensive historical information available. The report issued will document potential environmental conditions on the property or on the adjacent properties. The ETS includes: Site inspection Owner / occupant interview and questionnaire Limited historical search Regulatory database review Preparation of a report documenting the findings, conclusions and recommendations
Records Search with Risk Assessment (RSRA)
SBA accepts Records Search with Risk Assessment (RSRA) in lieu of a Phase I Environmental Site Assessment (ESAs) for low risk properties. The RSRA product is an inexpensive due diligence product that allows the lender to evaluate the environmental risk quickly. RSRA is a limited environmental due diligence tool intended to inexpensively evaluate the likelihood of contamination on the “high risk”, ”moderate risk” or “low risk” for contamination. If the property is not determined “low risk”, an additional environmental investigation may be required.
All work is performed in accordance with Small Business Administration (SBA) SOP 50 10 5E.
The RSRA includes: Database search of federal, state and local regulatory agencies Limited historical record review of the subject property and adjacent sites.
Desktop review of the above information by an Environmental Professional. This report meets the RSRA scope of the SBA. If concerns (high or moderate) are identified as a result of the RSRA ESI could roll those costs incurred into supplemental investigations, such as:
• Phase I Environmental Site Assessment
• Phase II Environmental Testing
• Site inspections to determine hazards or environmental damage.
• Inventory of hazardous substances and wastes.
• Review of regulatory agency files for previous non-compliance.
• Verification of integrity of all underground storage tanks.
• Collection and interpretation of surface water, sediment, groundwater and soil data.
• Preparation of operating history and site maps.
• Evaluation of compliance with federal, state and local regulations.
• Interpretation of aerial photography.
• Documentation of storage vessels, landfills and surface impoundments.
• Documentation of known spills or waste discharges.
• Development of remediation cost estimates.
• Preparation of Phase I Environmental Site Assessment Reports in accordance with ASTM Standards, country and lending institution requirements.