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When a Phase I Environmental Site Assessment (ESA) classifies a recognized environmental condition (REC) or the potential for consequences to the subsurface at a locality, most consumers request to estimate the potential impacts by conducting Phase II environmental site assessment. The presence of a REC or an environmentally-impacted property can hugely reduce its value. Stakeholders need to reduce liability and expected cleanup costs on their investment by conducting a Phase II ESA, in which a subsurface investigation tests soil, gas or groundwater to distinguish sources of environmental consequences. If a purchaser or lender doesn’t have a full range and realistic picture of a seemingly limited REC, they could be leaving themselves exposed to hidden risk. The Phase II ESA can restrict this risk and, in many cases, it can also defend against substantial long-term costs and complicated environmental liabilities. Objectives of phase 2 environmental assessment :...
