ASTM Phase I Environmental Site Assessment (Update)

Federated Environmental concedes that very often a Phase I Environmental Site Assessment Update is not needed on low environmental risk properties whose use has not changed, e.g. an office building, warehouse, or the like. However, a Phase I Environmental Site Assessment Update is a smart idea on other property types where a release may have occurred since the last time the property had a Phase I Environmental Site Assessment.

 

The ASTM standard practice applies an arbitrary useful life of only six months to a Phase I Environmental Site Assessment. Ordering a Phase I Environmental Site Assessment Update is a smart idea if the property use is heavy commercial or industrial. Fate is often determined during an act of indecision.

The Phase I Environmental Site Assessment Update report includes all of the elements of a Phase I Environmental Site Assessment but costs somewhat less because much of the historical site use research and interview work has already been completed. However, the Phase I Environmental Site Assessment Update report is essentially identical to a new Phase I Environmental Site Assessment report.

Federated Environmental completes comprehensive Phase I Environmental Site Assessment Updates in accordance with the (a) United States Environmental Protection Agency (USEPA) Standards and Practices for All Appropriate Inquiries {(AAI), 40 CFR Part 312} and (b) guidelines established by the American Society for Testing and Materials (ASTM) in Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process /Designation E 1527-13 (ASTM Standard Practice E 1527-13): Phase I Environmental Site Assessment, for real estate transactions, property development,  bank financing, re-financing, securitizations, and foreclosures, and other in-house proactive risk management programs.

Phase I Environmental Site Assessment Update Project Scope of Work

Project Synopsis, Scope of Work, and User Reliance: a summary of the Phase I Environmental Site Assessment Update purpose, applicable standard, user, and project limitations.

Subject Property Description: a description of the property, improvements, flatwork, utility services and the enviro-geographic setting (topography, geology and hydrogeology).

Historical Records Research: a review of historical fire insurance maps, city directories, title records, local and state regulatory files for the subject property and surrounding properties; dating back to the property’s first developed use (an ASTM requirement).

Property Physical Site Inspection: a evaluation of current site operations, occupants of adjacent properties and the surrounding area. Possible environmental concerns and recognized environmental conditions (RECs) identified are confirmed with key site  personnel with specialized site knowledge.

Phase I Environmental Site Assessment Update Report: provides professional conclusions and recommendations on which to base your environmental risk determination.

If the transaction involves a specific lender and/or business entity, the Phase I Environmental Site Assessment Update report can be certified to same. In addition, Federated Environmental will provide a Certificate of Insurance documenting appropriate coverage.