In the good state of the world, four out of five Phase 1 Environmental Site Assessments come back with no further recommendations. But what about in the bad state of the world?
In the bad state of the world, the Phase 1 ESA recommends Phase 2 Environmental Testing and then the Phase 2 Environmental Report comes back hot. Often the deal dies, but what if you still want to do the deal? Financial clients sometimes say that they can do the deal if they can just put a reliable number on the environmental contamination. The goal is a reliable Remedial Cost Estimate.
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