At Partner, we provide comprehensive Remedial Cost Estimates that empower our clients to quantify the environmental liabilities of contaminated sites accurately. These detailed assessments are essential for strategic planning and budgeting, enabling informed decisions on establishing financial reserves, managing property acquisitions, and securing financing. Whether you’re navigating environmental risks or planning a significant investment, our Remedial Cost Estimates are a cornerstone of financial and environmental due diligence.
Our team of licensed and experienced professionals delivers customized solutions across North America tailored to a diverse range of commercial real estate assets and client needs. Our team can help you confidently address the complexities of environmental liability and safeguard your investments.
A Remedial Cost Estimate may also be referred to as a Remediation Action Cost Estimate or an Opinion of Cost. All of these services address two primary questions when contamination is identified at a site: 1) How much will it cost to clean it up? and 2) What will the regulators make me do about it?
To reach a Remedial Cost Estimate, Partner’s remediation experts and cost engineers will review pertinent prior reports and data available in order to understand the likely work remaining at the site and various scenarios to achieve regulatory closure, and then calculate an order-of-magnitude cost opinion based on those scenarios. Because each site is unique, Remedial Cost Estimates are customized and may require the presentation of a range of potential scenarios and associated costs.
It is important to note that a Remedial Cost Estimate or Opinion is not a quote for service.
Factors considered in a Remedial Cost Estimate may include the type and extent of contamination, the site-specific conditions, the chosen remediation technologies or methods, regulatory requirements, permits, labor costs, material costs, disposal costs, and potential contingency expenses.
Remedial Cost Estimates are typically prepared by environmental consultants or firms with expertise in environmental remediation and cost estimation. They utilize industry-standard methodologies, cost databases, historical data, and their professional judgment to develop the estimate.
A qualified environmental professional (QEP) with experience in remedial projects should prepare the cost estimate. They can consider various factors, regulations, and remediation techniques to provide an accurate assessment.
The Remedial Cost Estimate is typically done after a Subsurface Investigation and/or Site Characterization has been conducted confirming the presence and extent of contamination at a site, rather than immediately after a Phase I Environmental Site Assessment identifies a potential concern. The more data available, the more accurate and precise a Remedial Cost Estimate will be.
Some providers of Remedial Cost Estimates or Opinions of Remedial Costs fail to take into consideration the regulatory requirements that could impose additional time and cost, especially in states where the cleanup requirements are not as straightforward as in other states. Another common oversight is that the cost engineer will not include all costs that can go along with remediation, such as a human health risk assessment and/or the cost of long term operations and maintenance or monitoring. Any such exclusions or assumptions should be noted within the report so that the client is aware of these potential additional costs.
Most critical to obtaining a quality Remedial Cost Estimate is to work with a consultant that is highly experienced in conducting environmental remediation.
