Phase I Environmental Assessmentsare performed for a variety of reasons:
Clearwater has been performing expedited Phase I Environmental Assessments since 1990 to identify recognized environmental conditions on real property. Most reports meet the ASTM International E1527-13 standard published November 6, 2013 for due diligence.
Who needs a Phase I Environmental Assessment?
Clearwater works with other lenders, including major banks, credit unions and due diligence for loans from the Small Business Administration, or meeting requirements of Fannie Mae, and Freddie Mac.
SCOPE OF WORK
A Typical Phase I Environmental Site Assessment Report Scope includes:
Inspection of the Site;
Catalog the Presence of Hazardous Materials;
Catalog the Presence of Petroleum Fuel, Lubricant and Other Products;
Visually identify likely PCBs, asbestos, lead paint, formaldehyde, etc.; and
Perform vicinity inspection.
Geology and Hydrogeology
Interviews with Knowledgeable Persons
Recognized Environmental Conditions
If a Phase I Environmental Site Assessment identifies recognized environmental conditions and potential sources of contamination of the site by hazardous materials, a Phase II Subsurface Investigation may be conducted. The Phase II Subsurface Investigation includes sampling and laboratory analysis to confirm the presence of hazardous materials. Some of the tests that may be performed include:
Sometimes a Phase I Environmental Assessment is not needed. Frequently a Phase I Environmental Assessment has been performed, so an update is needed. Another service is a site inspection as a stand-alone service to see if a Phase I Environmental Assessment is appropriate. A desk study review is a professional evaluation of the environmental database search files, the historic aerial photographs and documents provided by the owner.
Sometimes optional services are requested, which include asbestos, lead paint, and PCB sampling and indoor air quality sampling related to possible toxic building materials such as formaldehyde or vapor intrusion.