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The Phase I ESA is a screening-level environmental assessment which aims to detect recognized environmental conditions on the subject property. Recognized environmental conditions may include hazardous materials spills on the property, improper chemical or fuel storage on the property, or nearby leaking underground storage tanks, among other conditions.
Many lenders require a Phase I ESA to assess a property for environmental risk before they will approve loans for development or construction projects. New purchasers of property may wish to have a Phase I ESA completed so that they can be aware of any recognized environmental conditions on the property before they finalize a purchase. Completion of a Phase I ESA allows the new purchaser certain liability protections in the event that contamination is discovered on the property at a later date.
New regulations have recently been developed by the US Environmental Protection Agency (EPA) to govern the way Phase I ESAs are performed. These regulations, known as the "All Appropriate Inquiries" (AAI) standard, require additional database searches and interviews during the investigation, necessitate that additional information be provided by the client, and increase the education and experience requirements for environmental professionals who may perform the Phase I ESA.
The new AAI regulations took effect November 1, 2006. NOA's staff exceed the requirements of AAI, and our Phase I reports are fully AAI-compliant.
A Phase I ESA is good for six months after its date of completion. After that point, a Phase I Update or a new Phase I ESA can be completed. When a Phase I ESA is one year or more old, it can no longer be updated; a new report must be completed.
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The Phase I ESA includes the following components:
At the special request of the client, the Phase I ESA can address the following as well:
