An Environmental Site Assessment (ESA) is an investigation designed to determine whether environmental degradation has occurred on a property, and the likelihood of hidden liabilities for purchasers, owners, operators, insurance and financial institutions. The need for the ESA stems from the all appropriate inquiry set forth in Section 9601 (35) (b) of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).
Contamination from past uses can go undiscovered for several decades
An ESA is now a standard requirement for most lending institutions and insurance carriers prior to a commercial real estate transaction. It is also sound business practice to have an ESA conducted prior to closing on a property in a private lending transaction to ensure against future liability. As an added level of protection for our clients, LAUREL maintains Professional Errors and Omissions, Pollution and General liability insurance.
Our environmental site assessments typically include the following:
- A review of the site's history and that of adjacent properties to determine what hazardous substances may have been present, and how they may have been released into the environment.
- A review of federal, state and local databases to determine if the subject site or any sites up to a one mile radius of the subject site are listed, and a review of historical maps and aerial photographs, satisfying the American Society for Testing and Materials (ASTM) Standard Practice for Environmental Site Assessments: Phase I Environmental Assessment Process (Practice E 1527-05).
- A site specific study of the pertinent geologic, hydrogeologic conditions and hydrologic data found at the site, analysis of collected data to conclude the nature and extent of any environmental degradation of the site, and the potential liability risk to all interested parties.
- Written report of findings with separate sections entitled “Conclusions” and “Recommendations” that clearly lay the groundwork for additional study, if warranted.
If contamination is discovered, LAUREL can design and optimize an economical mitigation plan that is environmentally sound. In some cases, early implementation of a proactive remedial strategy will permit a property transaction to move forward while a clean-up is in progress.
Our clientele include many Small Business Owners, large financial institutions, publically traded corporations, insurance companies, REITS, law firms, industry and governmental agencies. References are available upon request.web design by Bower Web Solutions