Conducting a Phase 1 Environmental Site Assessment or a Transaction Screen Assessment

-

A Phase I Environmental Site Assessment is an official report procured by individuals, lenders, or financiers within a commercial or rural property transaction. The process identifies potential environmental concerns on a property with a thorough investigation, consultant experience, and consultant knowledge. It is easier for the potential buyer as through Phase I, he can get due diligence before purchasing a property. With the detection of potential environmental concerns, the buyer can make an informed buying decision-purchase or include the purchase price's remediation costs.

Learn some few things that are expected when getting a Phase I:

The environmental consultant or related company will confirm its requirements and essentials to the buyer.


A Careful Examination -  

The environmental consultant company performs several jobs to conduct a site assessment.

Some of the tasks included are:

1. Site visit examines the property and notes findings of water storage, water pollution, vegetation, or any other potential contamination.

2. Interviewing concerned authority for property details, including past and current owners, neighbors, and managers of the buildings on site.

3. Conducting a file search for public records to determine the property's history, what the property was used for if there are any environmental spill or release indicators, and what types of permits and plans were filed.

4. Examine historical aerial photographs, current topography for drainage patterns, and any chain of titles for Environmental Liens or Activity.

5. Transaction Screen Assessment - is primarily a scaled-down paraphrase of the Phase I Environmental Site Assessment, California.

Difference between a Phase I ESA and Environmental Transaction Screen Assessment:

Environmental Screen Assessment (ESA) are voluntary methods that identify Potential Environmental Concerns (PECs) for commercial real estate. These are limited environmental due diligence and used for low-risk property types with available past data. 

At times, TSA is sometimes used as an option to Phase I Environmental Site Assessments (ESA). 

An ESA has a confined reach, including a site visit, analyzing environmental databases, finishing an environmental questionnaire by the owner and consultant doing the transaction screen, and assessing limited historical sources. 

The TSA process may be carried either by the user or possible user of the property, while a Phase I Environmental Site Assessment must be led by an environmental consultant company.

Synopsis - Connect with an environmental consulting company to assist you through all the steps of an environmental site assessment.


Location: Florida, USA

Comments

Post a Comment

Popular posts from this blog

First Environmental Assessment Company of Phase I Sites

-
Image
  The phase I environmental site assessment (ESA) forms the basis of any responsible redevelopment project and offers legal protection for environmental liability, which is important for every landowner. The site environmental assessment aims to find contaminants, hazardous substances, or pollutants that may threaten the health of the site environment and public health. By examining historic and contemporary site documentation, a site assessment can help identify potential areas of environmental concern. Whenever potential site contamination is suspected, the Environmental Protection Agency (EPA) states that a Phase I site environmental assessment should be conducted. In practice, however, it is best to assume that any site may contain hidden contaminants from any stage of its historical commercial or industrial use. What are the phases of the Phase I Site Environmental Assessment? Review of environmental and historical documents Site inspection Reports of surrounding locations Meeti
Read more

Who All Can Benefit From Environment Due Diligence?

-
Image
When making a commercial land transaction, hidden environmental liabilities can be annihilating, sometimes penalizing up to tons of dollars. In case you're going to make a noteworthy land transaction such as buying, sale, rent, or refinancing, at that point, environmental due diligence will be a key instrument for controlling the risks and staying away from liabilities. Environmental due diligence is a formal procedure that evaluates the site area for potential danger of environmental contamination, for instance, soil or groundwater contamination. These standards for conducting environmental due diligence are proposed by the Environmental Protection Agency (EPA). Protecting yourself with Environmental Due Diligence:  Appropriate investigations made through environmental due diligence can defend you from the conceivably devastating environmental liabilities under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), regardless of whether cont
Read more

Remediating the Environment: Need and the Business

-
Image
We are in a time of rapid change in our industry, which is pushing us to better understand our complex and challenging sites through the use of innovative and sustainable remedial strategies and technologies. Emerging contaminants, evolving regulatory focus, transformational data acquisition and augmented reality visualization are re-shaping the environmental remediation , and we need to both drive and respond to these factors. Efforts of the government to determine the toxicity, bioaccumulation, and persistence of pollutants are well underway. There are a number of environmental companies in the USA that are working towards remedial landscape. To help with natural remediation, the organizations help wipe out radiation sources so as to help secure the environment. When a site is associated with contamination, there is a call for evaluation of the contamination. The environment assessment company manage the assessment system and the type of sampling and chemical tests to be c
Read more