Phase I, II or III Assessments
In this day and age, because of environmental concerns with older properties as well as some newer properties, there is always a risk that environmental issues might exist with commercial property. CES has the expertise and ability to order and review Government Record Reviews (GRR’s) and when needed, we can provide accurate guidance when more in-depth research is needed through a Phase I, II or III Environmental Site Assessment.
Phase I Environmental Site Assessment determines whether there are any indicators which would arouse suspicion that hazardous materials could be present. This is done utilizing a slew of different documents such as historical site records, site plans, photos, and more. Phase I environmental site assessment is perhaps the most important in regards to valuations since it will determine if further steps are necessary.
Phase II Environmental Site Assessment takes a step further and involves basic sampling of surfaces, soil, and water.
Phase III Environmental Site Assessment assumes that prior finding warrant more exhaustive sampling and testing methods. Mitigation plans are considered during this stage
All environmental assessments that we order fully meet current ASTM guidelines as well as your bank’s supplemental requirements. Our Environmental Review Reports provide clear, full detail and proper guidance to our clients when dealing with high risk collateral.