Here's an excellent article on the importance of conducting
environmental due diligence for commercial property
transactions:
http://finance-commerce.com/2012/01/legal-matters-environmental-mess-needn%E2%80%99t-be-a-legal-mess/
I used to live on Long Island, NY,
where natural gas is not readily available. I still visit the
in-laws there regularly, and a common topic of conversation is the
price of heating oil. In places where natural gas is not available,
the use of heating oil USTs is very common. It's not that big of an
issue in the natural gas-rich midwest. But with the
environmental due diligence mindset I've inevitably developed over
my career, I can't help but think that the volume and commonplace
use of heating...
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Optimism among small business owners = increased SBA
lending:
http://www.cnbc.com/id/45827467/
August Mack has extensive experience in conducting environmental
assessments in accordance with SBA Standard operating procedures.
From a Records Search with Risk Assessment (RSRA), to a Phase I
Environmental Site Assessment, and all the way through a Phase 2
Investigation, we can help ensure a smooth environmental process
for your SBA backed loans.
Happy New Year! We hope that everyone had a happy and safe
holiday season. Thanks for making 2011 a great year, and we look
forward to woriking with you in 2012!
We've posted before on the newly revised SBA Standard Operating
Procedures (SOP 50 10 5(D)) in regard to the requirement that the
EP certify that the UST systems at gas stations are in compliance
with all state regulations. It has been a topic of much debate.
Check out this blogpost on the issue, and specifically the
conversation that occurs in the response comments:
http://commonground.edrnet.com/posts/4073421480
Here is Part 2 of our December 5th post:
http://www.elabs7.com/functions/message_view.html?mid=1390479&mlid=10412&siteid=29083&uid=78a43f1442
We look for every opportunity at August Mack to provide our lending
partners with training experiences on our environmental due
diligence service areas. If you're interested in a small
presentation, large presentation, lunch and learn, etc., feel free
to give us a call!
Indianapolis, IN: 317.916.8000 (Kent Johnson)
Dublin, OH: 614.798.9922 (Eric Cooper)
Livo...
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Looks like there is development in the works for a new ASTM
standard for methane hazard mitigation practices (
WK32621).
It will be interesting to see how/if this will be incorporated into
risk management policies for environmental due diligence. What
immediately comes to mind are the numerous landfill facilities that
are often identified in close proximity (sometimes adjacent) to a
study site during a Phase I Environmental Site Assessment.
August Mack has the staff and experience to identify
sources of indoor air pollution, as well as the means to
mitigate the problem and ensure a safe breathing environment.
Dry cleaning facililties routinely
are a source of concern while performing environmental site
assessments due to the invasive and carcinogenic effects of the
solvent used in the process. Tetrachloroethylene (also known as
perchloroethylene, perc, or PCE) can easily migrate through soil
and groundwater, and has been the topic of much controversy,
specifically as it pertains to environmental due diligence.
With all that is known about the harmful effects of perc, many
states are working to ban...
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Interesting article on how long subsurface impacts can hang around,
and how extremely expensive the assessment and cleanup can
be:
http://contaminatednation.blogspot.com/2011/11/uc-davis-addresses-leftover.html
As I've promoted to a position of management, I find myself
conducting fewer and fewer Environmental Due Diligence Assessments.
For logisitical and fiscal reasons, it only makes sense that
managers and EPs will have less time with boots on the ground in
the field, and more time keeping projects moving, reviewing reports
for content and issues, and communcating with clients.
However, I do find it important at least once a month to keep a
Phase I Environmental Site Assessment (ESA), Modified Phase...
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This article details the issue of UST facilities and the change
in the SBA's SOP (effective 10/01/11) pertaining to how to address
them during environmental due diligence for an SBA backed
loan:
http://www.elabs7.com/functions/message_view.html?mid=1358993&mlid=10412&siteid=29083&uid=78a43f1442
The logic makes sense, but the increased liability for EP's is
significant.
Today, people are more aware of the
concerns associated with indoor air quality (IAQ)than ever before. This heightened awareness often causes employees
to be more sensitive and sometimes emotional about their situation.
Often, this causes employees to blame IAQ for their health-related
symptoms. As a property manager, it is important to understand
these concerns and address them as quickly and effectively as
possible using sound scientific principles. The initial reaction to
a tenant’s complaint...
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Typically, drycleaners are a red flag for environmental assessments
due to the inherent solvent use in the drycleaning practice.
Specifically, tetrachloroethylene (also known as perchloroethylene,
or perc) is a very invasive solvent, that when spilled can migrate
through the subsurface and contaminate groundwater pretty easily.
It travels quickly, and can cause problems quickly if groundwater
is used for drinking water. It can also cause indoor air quality
problems if the groundwater moisture...
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I have been reminded lately that
conducting a Phase One Environmental Site Assessment is not
just useful for the purchaser of a property. Being proactive when
preparing to sell is as good a time as any to complete this
study.
Add value to your property by having the study completed by a third
party and ready for review by interested buyers and lenders. This
is particularly helpful when the site in question is an
existing commercial or industrial site. It limits the occasion
of being surprised by...
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We have seen an increasingly large
volume of Records Search with Risk Assessment (RSRA) projects
coming through the door. The RSRA is a great product because it
provides a thorough review of a government database report and
multiple historical sources to produce a risk rating for a
potentail purchaser of commercial real estate. Since it is
literally just a review of records, it can be done from the desktop
of an environmental specialist, and usually very quickly.
August Mack has extensive...
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Here's a link to a great blogpost about some of the less talked
about hurricane aftermath:
http://commonground.edrnet.com/posts/69918004f9
Another consideration not mentioned in this post is physical damage
to asbestos containing materials (ACM) in older structures. ACMs
can become a serious hazard when made friable, which is all too
possible when hurricane force winds are a factor. The midwest was
obviously not adversely impacted by Hurricane Irene, but we are no
stranger to high winds, flooding,...
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Official interest rates are to be
posted September 12, and are expected to be at an all time low of
4.69% on a 20 year loan, and 3.75% for a 10 year loan originated in
September. This will undoubtedly incentivize more SBA guaranteed
loan applications, which in turn will warrant the need for
SBA compliant environmental due diligence assessments.
August Mack's environmental due diligence team is very familiar the
SBA's environmental policy, is experienced in preparing
reports in accordance with SBA...
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Sanborn Fire Insurance Maps, or
Sanborns, are a great historical source of information for
conducting environmental site assessments. When available for an
area, they are a great record of UST locations, hazardous storage
areas, and historical building uses. Gasoline stations that
operated from the 1920's through the 1950's usually don't show up
on any type of registered UST database, largely because the
facilities closed down before the database was ever created.
Sanborns serve as a safety net...
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