Environmental remediation can be a real headache, but there are a number of things that can be done to reduce the time and money spent to receive regulatory compliance. Remediating contamination at your property may not be as scary as you once thought. Yes, it can hit the checkbook hard or even squash the loan or refinance you were hoping would come through. But there are steps you can take to reduce the headache of achieving regulatory compliance.
Let’s say you’ve completed a Phase I Environmental Site Assessment followed by a Phase II Subsurface Investigation, all to learn that you have a more serious issue and the property needs more work in order to satisfy the regulatory agency in the state. The “more work” is environmental remediation (which is also referred to as site characterization or a Phase III Environmental Site Assessment), but you don’t have the slightest clue what steps need to be taken.
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September 28, 2021
Lenders may be leery to fund, and buyers may be less likely to want to obtain a site with potentially unknown clean-up costs attached. Does this mean you have to pump the brakes on your deal, or worse, pull out completely? The answer is not necessarily if you perform a Remedial Cost Estimate.
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The Phase 2 Subsurface Investigation Is Sometimes the Dreaded Next Step Meet the Phase 2 Environmental Site Assessment—she’s the dreaded next step after the Phase 1 ESA. She’s got a bit of […]
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Survey Insights into the Construction Industry’s Response to Tariffs By Robert W. Barone, R.A., LEED AP, Director of Construction Services at Partner Engineering and Science, Inc. | Published May 12th, […]
