An Environmental Site Assessment is a survey of a property for evidence of environmental conditions that could impact upon its market value. Environmental Site Assessments have become routine aspects of most property transfers. They are being conducted on virtually all industrial properties, most commercial properties and a growing number of residential properties.
Phase I Environmental Site Assessments:
The preliminary or "Phase I" assessment is intended to identify conditions that could result in remedial costs or decreased market value to a particular real property. Research is conducted into the property's regulatory history and a thorough inspection of the property and surrounding neighborhood is performed by a qualified environmental professional. Interviews of people knowledgeable about the property are conducted and a review performed of computer databases and previous environmental studies. Finally, a comprehensive written report is prepared which includes a summary of the information obtained, diagrams and photographs of the property and its vicinity and any outstanding issues or "Recognized Environmental Conditions."
Phase II Environmental Site Assessments:
Follow up inquiry is performed on all "Recognized Environmental Conditions" identified during the Phase I assessment or Transaction Screen. Inquiry can include a Subsurface Investigation to collect and analyze soil, soil vapor and ground water samples from beneath a property for evidence of its current environmental condition. Underground storage tank testing and lead paint, asbestos and mold inspections are also commonly performed as part of a Phase II assessment. In many instances, these issues can be resolved without sampling through a review of existing documentation already in the possession of a property representative or public agency.
Other Environmental Site Assessments:
Many regulatory agencies ask for "Subsurface Investigations" prior to building plan approval. Others require "Site Characterizations" in response to suspected chemical releases. Whatever its name, the scope of the Environmental Site Assessment is dictated by the history of the property and its prospective use. ACT is committed to providing its clients with comprehensive assessments of the environmental condition of a property to the satisfaction of purchasers, financial institutions and regulatory agencies across the country.
How Much Does an Environmental Site Assessment Cost?
The costs of Environmental Site Assessments vary depending upon a property's size, number and type of current uses and the historical information available for review. A Phase I Environmental Site Assessment of a typical commercial property costs between $1,500.00 and $2,000.00. The cost of a Phase II Environmental Site Assessment will depend upon the amount of sampling required, but can generally be expected to cost between $5,000.00 and $10,000.00.
Why Choose Advanced Cleanup Technologies?
Our highly experienced staff and company-owned equipment allow ACT to complete your transactions in a timely and cost effective manner. In an industry where cost can be the greatest uncertainty and time is critical, ACT will provide a written guarantee of cost and scheduling.
