A Phase I Environmental Site Assessment (ESA) in Oklahoma City, Oklahoma, follows a standardized process established by the American Society for Testing and Materials (ASTM) Standard E1527-13. This assessment is conducted to evaluate the environmental condition of a property, particularly in the context of real estate transactions or development projects. The purpose is to identify potential environmental liabilities and provide information for informed decision-making.
A Phase I ESA aims to identify any recognized environmental conditions (RECs) on or near the property. RECs are defined as the presence or likely presence of any hazardous substances or petroleum products on a property that could impact human health or the environment.
If any RECs are identified during the Oklahoma City, Oklahoma Phase I ESA, the environmental professional will recommend further investigation (Phase II ESA) to determine the nature and extent of the contamination. If no RECs are identified, the environmental professional will conclude that the property is unlikely to be contaminated.
Phase I ESAs are required for many commercial real estate transactions, including those involving loans from federally regulated lenders. They can also be a valuable tool for property owners who are considering developing or redeveloping a property.
It’s important to note that regulations and requirements can change, and local conditions may influence the specific aspects of a Phase I ESA in Oklahoma City. It’s essential to work with experienced environmental consultants knowledgeable about local environmental regulations and practices to ensure the assessment is conducted properly and thoroughly.
Additional Oklahoma City, Oklahoma state and local information about PCAs can be obtained from the following resources:
Here are some of the benefits of having a Phase I ESA conducted on a property in Oklahoma City, Oklahoma:
If you are considering purchasing or developing a property in Oklahoma City, Oklahoma, it is important to have a Phase I ESA conducted by a qualified environmental professional, like the experts at Partner ESI.
