Read up on past e-newsletters and have new ones sent directly to your inbox by signing up for the Envirologic e-newsletters today!
Understanding the past use history and existing environmental conditions of a property are critical to a prospective buyer or existing owner as they either purchase property or manage their assets. Envirologic's due diligence services provide the level of comfort and security needed to ensure liability protection and risk management.
In most cases, a Phase I Environmental Site Assessment (ESA) is performed. The industry standard for performing Phase I ESAs is based on the American Society for Testing and Materials (ASTM) Standard E 1527, which is largely focused on issues that could result in contamination of the site.
However, there are several environmental concerns that are not part of the typical Phase I ESA that could be of great importance. Other concerns, such as asbestos-containing materials, wetlands, regulatory compliance, and demolition may have costs and effects on project timelines that outweigh the traditional due diligence effort. Additionally, it's important to understand the Small Business Administration's (SBA) environmental due diligence requirements which guaranty 7(a) and 504 loans.
View our Michigan Environmental Due Diligence Infographic, a step-by-step guide to understanding the past use history and existing environment conditions of property.
|Type of Property / Transaction / Future Use||Suggested Need in Addition to ASTM Phase I ESA|
|New Construction||Wetlands identification and survey, endangered species survey, soil erosion plans, storm water management plans|
|Brownfield Redevelopment||Asbestos survey, sampling of potential PCB-containing equipment, lead-based paint survey, soil management plan, due care plan|
|Converting Industrial Property to Residential Use||Asbestos survey, lead-based paint and plumbing survey, radon test, indoor air testing|
|Demolition||Full scale asbestos and lead-based paint inspection, building demolition specifications, sampling of potential PCB-containing equipment, properly abandon wells and septic systems|
|Corporate Acquisition||Compliance assessment, asbestos survey and identification of potential PCB-containing equipment, permit status|
Contact Envirologic today to discuss how we can assist you with our due diligence services.