A Phase I Environmental Site Assessment (ESA) is commonly conducted for the purchase or refinance of a commercial, industrial, or multi-tenant property. The purpose of a Phase I ESA is designed to provide an objective, and professional opinion of the potential environmental risks, if any, associated with the subject property.
The final step is to deliver to the client a report that summarizes our findings in the expected format. We utilize the ASTM E1527-21 standard which is accepted by all banks and the Small Business Administration (SBA). A SBA reliance letter can also be provided in order for you to get the loan you need.
We deliver our reports electronically via email. We include an executive summary inside the first few pages which will quickly give you our findings.
Most Phase I ESAs come back clean. However, sometimes Recognized Environmental Concerns (REC) are found which may need further investigation. A Phase II Subsurface Investigation would be recommended which can determine the nature and extent of contamination through field testing and laboratory analysis.