A Environmental Site Assessment- What is it?March 13, 2018
WHAT IS AN ENVIRONMENTAL SITE ASSESSMENT?
An environmental site assessment are the process of identifying the existence and threat of contaminants such as heavy metals, dry cleaner solvents and petroleum, on your site.
As a part of the buyer’s due diligence process, an environmental site assessment will recognize the existence of contamination issues on your property prior to your purchase avert expensive and troublesome surprises in the future. Contamination on your property can negatively impact the value of your site. Therefore by completing an environmental site assessment, buyers can rest assured that the price they are paying for the site is reflective of the site’s true property value.
Additionally, buyers who are seeking financing for their purchase will generally be required by their lenders to complete an environmental site assessment.
An environmental site assessment consists of a few parts:
1. PHASE 1 ENVIRONMENTAL ASSESSMENT:
During this initial portion of the assessment, an environmental consultant will utilize visual and historical site data to formulate an educated opinion on the likelihood of contamination on the property. The purpose of a phase 1 assessment is to identify areas of potential environmental contamination and determine their individual risks. The consultant will consider both the historical and structural evidence (ie: from historical records, aerial photos and on site photos) to arrive at a decision to either recommend a phase 2 investigation.
2. PHASE 2 ENVIRONMENTAL ASSESSMENT:
If the consultant decides that a phase 2 investigation is necessary, a phase 2 will commence. A phase 2 investigation consists of physical drilling and sampling of the site’s soil, groundwater etc to confirm whether the potential contaminants identified in phase 1 are present.