Vapor Intrusion Screening for Real Estate Transactions
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...
Staying Sharp as a Manager/EP
However, I do find it important at least once a month to keep a Phase I Environmental Site Assessment (ESA), Modified Phase...Read More »
Why Would I Need a Phase I?
- 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...
Getting Stuck When Someone Else is to Blame.
-by Bill Wagner
Great article on why a Phase 1 Environmental Site Assessment is so important!!!
by Bill Wagner of Taft Law on the EDR Commonground Blog
"A federal Court of Appeals recently held that a landowner who expressly warranted in his sales contract that his property was not contaminated and breached the warranty through no fault of his own, was not entitled under Illinois law to common law... Read More »
Ahhhh The Project Triangle...
NEW SBA POLICY - Effective October 3, 2011
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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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Phase I ESAs and Non-Scope Considerations
It is very important, and most times required, by lenders to have a Phase I Environmental Site Assessment (ESA) performed prior to a property transaction. The purpose of an ESA is to identify environmental risks associated with the property and to protect against liability related to existing site conditions. However, there are a number of environmental considerations which are outside the scope of a Phase I ESA; commonly referred to within an ESA as “non-scope considerations.” These additional...
Read More »August Mack Innovation
In today’s market, August Mack understands the need for your organization to stay competitive in today’s market and our online Phase I ordering system can help you accomplish this goal. Unlike some of our competitors, our online ordering system can offer you an instant and cost-effective quote for a Phase I Environmental Site Assessment. This process allows us to offer you the best price and also allows us to get started immediately on completing your site assessment and provide you with a...
Read More »Vapor Intrusion Tier Schedule
Preparing for my webinar on
"Addressing Vapor Intrusion during a Property Transaction," I ran
across an ASTM article that gave a great basic snapshot of the
four tiers involved in conducting a vapor intrusion assessment. I
have copied an exerpt below, but you can find more information at
www.astm.org.
Anthony J. Buonicore, chair of ASTM Task Group E50.02.06 on Vapor
Intrusion, says E2600 defines good commercial and customary
practice for conducting a vapor intrusion assessment on a...
Know Your Consultant
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...
Phase 1 Environmental Assessments
What is an Environmental Professional?
Back when I began this
blog with a glossary of terms commonly used in Phase 1
Site Assessments, I failed to include the definition of an
Environmental Professional (or EP (as defined by ASTM
1527-05).
A person meeting the education, training, and experience
requirements as set forth…
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Professional/Educational Qualifications |
Relevant Experience |
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PE or PG license/registration |
3 years |
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Federal or state license/certification to perform environmental inquiries |
3 years |
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B.A./B.S. degree or higher in... |
317-916-3105
Environmental Due Diligence Intern at August Mack Talks About His Duties
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 »Utilizing Limited Compliance Audits in Real Estate Transactions
When a property is undergoing a transaction (e.g., sale, refinance, foreclosure), a Phase I Environmental Site Assessment (ESA) is conducted to identify any potential liabilities associated with past or present use of the property. The industry standard for performing Phase I ESAs is based on the American Society for Testing and Materials (ASTM) Standard E 1527, which specifies industry-accepted minimumrequirements for evaluating the environmental condition of a property. The Phase I ESA is...
Read More »