The purpose of Phase I ESAs is to identify Recognized Environmental Conditions (RECs) pursuant to the ASTM standard by evaluating activities involving hazardous substances; current and historical site use; existing environmental reports and data; and other historical information. In addition, TRC performs a site inspection and conducts interviews with pertinent individuals including state and/or local regulatory officials and the current and/or previous site owner(s) and/or operator(s). Based on an analysis of the information collected, further investigation may be deemed warranted.
By obtaining a Phase I ESA prior to a property transaction, a User (e.g. a potential purchaser of property, a potential tenant of property, an owner of property, a lender, or a property manager) can satisfy one of the requirements to qualify for the innocent landowner, contiguous property owner, or bona fide prospective purchaser limitations on CERCLA liability.
TRC has performed thousands of Phase I ESAs for a variety of clients including lending institutions, real estate developers, and buyers and sellers of industrial and commercial properties. Our Site Assessment Group provides our clients with a high quality, thorough and detailed assessment designed to limit future environmental liability, and to satisfy due diligence and innocent purchaser defense requirements.