Phase I Environmental Site Assessment (ESA)
A Phase I ESA is utilized as a due diligence tool to establish an understanding of environmental risk by identifying any potential and/or existing contaminations that impacts a property. This empowers decision making and can provide liability protection for buyers, sellers, lenders, and other parties in a real estate transaction. In addition, a Phase I ESA can also be utilized by owners to thoroughly understand their individual properties or portfolios of assets. A Phase I ESA may also be required as part of refinancing. A Phase I ESA is one step required of the All Appropriate Inquiries (AAI) rule to satisfy the requirements in order to obtain protection from potential liability as an innocent landowner, contiguous landowner, or prospective landowner. No matter what property you own or intend to buy, having a Phase I ESA is an important tool in protecting and understanding your risks.
A Phase I ESA identifies historical environmental conditions (HRECs), controlled environmental conditions (CRECs), and recognized environmental conditions (RECs), as well as de minimis conditions of a specific property. To conduct a Phase I ESA, Moran Consultants performs a physical in-person assessment of the site and reports on the existing conditions. Interviews with owners, users, occupants, key site operators, and any other entities familiar with the property are performed. We research the historical background, including but not limited to topographic maps, fire insurance maps, aerial photographs, and city directories. Local municipalities are contacted for the former and current standings of the property, as well as any historical violations or other pertinent data. A review of local, state, tribal, and federal government databases are examined. Moran Consultants establishes the complete picture of the property, which includes the physical characteristics and surrounding areas, to identify any potential environmental risk. Once a thorough review is completed, the findings are established in a formal report and are signed by an Environmental Professional (EP).
Obtaining a Phase I ESA is a step in the right direction that will directly impact offer prices, provide negotiating stances, and ultimately allow individuals and corporations to make informed decisions. A Phase I ESA will reveal potential or existing risk and without this information, will delay progress down the line and create the potential for unforeseen liabilities. With Moran Consultants on your side, our team of professionals can provide the necessary guidance and information to save you both time and money.
When it comes to ESAs, you need the service of a reliable company with Environmental Professionals (EPs) that have a strong reputation. Moran Consultants personnel are highly educated and trained, with decades of environmental experience in the industry. Equipped with industry knowledge, our consultants can empower you with the right information to give you peace of mind.
Moran Consultants follows the industry standard, ASTM E1527 guideline; however, it is important to note that the guideline is only the baseline, as Phase I ESAs can be tailored to include more information upon request, such as projects with Fannie Mae, Freddie, Mac, The Federal Deposit Insurance Corporation (FDIC), the U.S. Department of Housing and Urban Development (HUD), and similar scopes. In addition to the services listed above, our team of professionals can screen for the potential of asbestos-containing materials, lead-based paint, radon, suspect mold, and the presence of lead in drinking water at a property.
Do you need a Phase I ESA? Let our trained and dedicated professionals provide you with the right information to protect your interests. Call us today 866-553-2329 or contact us online to begin the process and learn how we can help.