Taken from our newsletter
files:
Vapor intrusion (VI) is one pathway for building occupants to come
in contact with chemicals of concern, occurring when vapors from
contaminated soil and/or groundwater migrate into the indoor air of
overlying structures. The American Society for Testing and
Materials (ASTM) Standard Practice for Assessment of Vapor
Intrusion into Structures on Property Involved in Real Estate
Transactions E 2600-08 has been developed based on an industry
need to address the VI...
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...Read More »
However, I do find it important at least once a month to keep a Phase I Environmental Site Assessment (ESA), Modified Phase...Read More »
August Mack provides several types of Environmental Due Diligence Assessments to aid clients in assessing environmental risk during commercial property transactions. The most basic of which is typically the Records Review with Risk Assessment. The Records Review with Risk Assessment allows the client to get an understanding of the regulatory status and history of the site and surrounding area. Furthermore, the client receives August Mack’s professional opinion as to whether the information...
Read More »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.
Happy Halloween from August Mack!
August Mack specializes in environmental, health and safety
compliance; environmental due diligence; environmental site
remediation; and sustainable business strategies to the industrial,
legal, financial, health care and government sectors throughout
North America. August Mack has offices in Indiana, Michigan,
Missouri, Ohio and Pennsylvania. For more information on August
Mack's environmental, health and safety services, visit
www.augustmack.com or
call...
Check out my past blogs for information on lead based paint
(blog.augustmack.com/blog/environmental-due-diligence-and-risk-management/lead-based-paint)
and lead in drinking water (blog.augustmack.com/blog/environmental-due-diligence-and-risk-mangement/lead-in-drinking-water).
EPA Works to Prevent Lead Poisoning in Children / National Lead Poisoning Prevention Week is October 23-29
WASHINGTON – The U.S. Environmental Protection Agency (EPA) is recognizing National Lead Poisoning Prevention Week...
Read More »
Phase 1 Site
Assessments are done for a number of reasons. Below are
common examples of why you would order a Phase 1:
- Purchase of real property (property or personal property) by a person or entity not previously on title
- Contemplation by a new lender to provide a loan on the subject real estate
- Partnership buyout or principal redistribution of ownership
- Application to a public agency for change of use or other discretionary land use permit
- Existing property owner's desire to understand toxic...
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...Read More »
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...
Read More »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...
Hiring an environmental compliance
consultant will add credibility to your result in
the eyes of your external stakeholders. These individuals or firms
usually have an already established relationship with the
environmental governing bodies and are knowledgeable in how to
submit reports correctly.
If you suspect a violation may be present or you become aware that a facility should have been complying with a law but has not, a consultant can come in and offer environmental compliance solutions.
If you suspect a violation may be present or you become aware that a facility should have been complying with a law but has not, a consultant can come in and offer environmental compliance solutions.
Mos...Read More »
On August 21, 1999, arsonists set
fire to an estimated seven million tires at the Kirby Scrap Tire
Facility located in Sycamore, Ohio. This would later be classified
as one of the largest tire fires in the state’s history and would
take approximately 250 firefighters three weeks to
extinguish.
The former tire collection facility is situated on 140 acres located in Sycamore, Ohio. The scrap tire facility started collecting tires in the 1950s and, at the time of the fire, contained an estimated...
Read More »|
New SBA Environmental Policy in Effect Today, Banks Vow to Increase Small Business Lending Author: Dianne P. Crocker (dcrocker@edrnet.com) |
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How you think about and utilize the environmental risk mitigation provisions included in your sales agreement can result in leaving money or other value on the table both in the just completed deal and, potentially, in future transactions involving the same assets.
Given the virtual impossibility of eliminating all of the material environmental risks surfaced during the due diligence period, they are normally addressed using a variety of financial and legal instruments which are set forth in the...
Read More »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...
If you like my blog, you should
check out my webinar on September 20th at 10AM - EST!
"Addressing Vapor Intrusion During a Property Transaction"
The American Society for Testing and Materials (ASTM) E1527-05 or All Appropriate Inquiry (AAI) Standard Phase I was not written to address vapor intrusion (VI) contamination. Vapor Intrusion, the new hot environmental topic, sparked the need for a revised VI screening standard (E2600-10) pblished in June 2010. Although it is likely to become part of the...
Read More »"Addressing Vapor Intrusion During a Property Transaction"
The American Society for Testing and Materials (ASTM) E1527-05 or All Appropriate Inquiry (AAI) Standard Phase I was not written to address vapor intrusion (VI) contamination. Vapor Intrusion, the new hot environmental topic, sparked the need for a revised VI screening standard (E2600-10) pblished in June 2010. Although it is likely to become part of the...
While waiting on my client
appointment recently at a local breakfast place, I was
listening in on a neighboring table's conversation.
(Rude I know, but they weren't exactly whispering)
As soon as the word environmental was mentioned during
their chat, my ears perked up. One of the gentleman was
speaking about a recent project they were working on for
development and discussing the environmental considerations and
review that had to be completed prior to breaking ground. He
said that they had...
August Mack Environmental has
experts that perform hundreds of Environmental Site
Assessments. We have performed work in 40+ states and much of
this work includes due diligence related to environmental
assessments in real estate transactions. August Mack provides the
commitment to complete these projects in a timely fashion which is
usually of utmost importance.
Many of the webinars that have been
given by August Mack Environmental in recent years have been
recorded so we can utilize to train our new employees. If you
are interested in obtaining a recorded copy of one of our webinars
on a variety of topics, contact Tom Anderson at 317.916.3105.
We have webinars on compliance, due diligence, sustainability,
remediation, safety, and much more.
I have been spending my summer working in the transaction department mostly assisting with and participating in Phase I Environmental Site Assessments (ESAs). I recently assisted in historical research for a report on a property in downtown Indianapolis. My research included putting together and reviewing historical Sanborn fire insurance maps, and historic city directories for the property as well as surrounding properties at the state library. I was specifically looking for historical...
Read More »Recently, I participated in a site inspection on 102-acres of
vacant, agricultural land for a Phase I Environmental
Site Assessment. Because the land was historically
agricultural, I was looking for signs of illegal dumping of
hazardous waste, evidence of historical homes or buildings on the
site, stressed vegetation or any other issues of environmental
concern. I have learned with every site inspection it is
important to be thorough and inspect every part of the
property because you never...
Read More »
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