Because hazardous waste cleanups can be very expensive and take years to complete, environmental concerns have become an important factor in property acquisition. A Phase I Environmental Site Assessment (ESA) (now known as "All Appropriate Inquiry" or AAI) is an important action a purchaser can take to learn about the property's past use, the environmental conditions at the site and adjoining sites, and the likely presence of hazardous substances. Armed with this knowledge, the prospective purchaser can:
1) Better assess the financial risk posed by potential environmental contamination;
2) Take steps to avoid full or partial liability for cleaning up the property;
3) Demand that the current landowner clean up the property prior to the sale; or
4) Have the cost of the property reduced commensurate with the cost of the cleanup activities.
This Phase I assessment involves conducting some or all of the following activities:
Based on the information gathered during the Phase I assessment, EDI will prepare a report summarizing the findings and providing professional opinions regarding the potential for an environmental problem to be present at the site. As necessary, EDI will make recommendations for additional work and provide associated cost estimates.
Our standard Phase I Environmental Site Assessment (ESA) report is conducted in accordance with the ASTM E 1527-13 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process. The final product is a bound report with appendices attached as warranted. You can depend on our reports because we guarantee they will meet or exceed the ASTM standards established for each of our products. Our reports have been developed with more than 15 years of experience, resulting in a format that is well organized and easy to read and understand.
As part of the SBA's 504 or 7(a) programs, the SBA requires an environmental investigation of every commercial property that will serve as collateral for an SBA loan guarantee. EDI's Phase I ESA, Records Search with Risk Assessment (RSRA) and Transaction Screen Assessment are compliant with SBA’s SOP 50 10 5(B) for Lender and Development Company Loan Programs.
To request a quote or find out more about the services we offer, please call +1 310-832-2300 or send us an email.
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We are excited to announce the hiring of Jeric Santos, Project Manager, at EDI Consutlants, Inc. Her extensive consulting expertise makes her an excellent addition to our team.