We have previously discussed why borrowers and purchasers should independently evaluate environmental conditions at their properties and simply rely on phase 1 reports prepared by their lenders or sellers. Click Here. Borrowers typically believe that a site is “clean” if a bank determines that a Phase 1 is acceptable. However, what many purchasers or do […]
Buyer Relies on Seller/Lender Phase 1 To Detriment Read More »
The ASTM task group that is responsible for finalizing the E1527 phase 1 standard has completed its final proof-reading and editorial changes. The revised standard will now go to EPA for approval. If EPA blesses the changes( which we believe it will), the E1527-13 will become the equivalent for complying with the All Appropriate Inquiries
Revised ASTM Phase 1 Standard To Be Reviewed by EPA Read More »
Earlier this year, Freddie Mac recently clarified its environmental requirements for phase 1 reports issued for multi-family loans. The two key changes involve radon and asbestos. Excerpts for these two issues are below. The full text of the revisions are available from the link at the bottom of this post. Radon- Freddie Mac now requires
Freddie Mac Changes Radon and ACM Requirements for Multi-Family Phase 1 Reports Read More »
Since vapor intrusion started to come into focus a decade ago, environmental consultants have been debating if vapor intrusion was covered by the standard phase 1 or needed to be specifically added to the phase 1 scope of work. This is not an academic discussion but a real concern to property owners and lenders who are
1993 EPA Memo Clarified CERCLA Jurisdiction For Indoor Contamination Read More »
Documents in agency files can provide important information on the scope of contamination, how the contamination was assessed and other valuable information on the remedy/institutional controls. Thus, many clients expect that environmental consultants routinely review regulatory agency files when assessing potential RECs at a site. However, many phase 1 “commodity shops” or high volume firms
Agency File Reviews- The Dark Secret of Phase I reports Read More »