Discussions and comments regarding environmental due diligence, environmental liabilities, CERCLA liabilities, mergers and acquistions, landowner liability protections, LLPs, Phase I environmental site assessments, Phase 1 ESA, transaction screening, property condition assessments, corporate liabilities, environmental compliance liabilities, quantitative environmental liability assessment.
Friday, February 23, 2018
Iowa Phase 1 Environmental For Residential Development
Caltha LLP Project Summary
Project:Phase 1 Environmental Site Assessment
Location(s):North Central Iowa
Key Elements:ASTM Phase 1 Environmental Site Assessment, Tier I Vapor Encroachment Screening Assessment, ASTM E2600-10
Caltha conducted an Phase 1 Environmental Site Assessment meeting the requirements of E 1527:13 and "All Appropriate Inquiry". The property was a residential development located in north central Iowa. The assessment included reviews of historical maps, aerial photographs, owner and site manager interviews and a review of regulatory databases. The on-site inspection identified no other Recognized Environmental Conditions (REC) including the potential for soil vapor intrusion risks. However, nearby industrial sites were identified in database reviews which had leaking tanks and prior hazardous waste management enforcement action. Upon further review, it was determined these sites posed a de minimis threat for contamination of the property being reviewed.
Abandoned Gas Station Being Sold For Redevelopment
Nearby sites are reviewed during a Phase I Environmental Site Assessment because contamination from neighboring properties can affect the value of a property being purchased.