Site Assessment What is It? The Environmental Site Assessment is a means of property investigation that requires the environmental professional to visit the subject site noting all physical environmental characteristics and researching the earliest known industrial use of the property. The Phase I ESA is a visual investigative measure that is used in order to determine if there are any adverse conditions on a piece of real property; if there are any contamination or environmental releases, either actual or perceived. These conditions of the property are known as Recognizable Environmental Conditions or RECs.
The Phase II ESA The discovery of a REC is an indication that there is a possible or actual contamination release on site. If this is found, it will be necessary for us to consult with our clients to share all of the facts from the Phase I so that they can make an educated decision about the feasibility of conducting a Phase II ESA. The Phase II ESA is the second part of the due diligence process that will require invasive sampling methods in order to determine the extent of contamination.
You Should Know... The Environmental Site Assessment is vital to the protection of our clients. We are finding that a large number of individuals, companies, and other institutions that we encounter are not employing the use of the Phase I ESA for a number of reasons:
It's too expensive. It's unnecessary. It's overkill. Nothing is going to happen.
Not having a Phase I ESA or Environmental Due Diligence Investigation performed on a property is a very big mistake that could cost millions and turn a valuable asset into a very costly liability. Avoiding a Phase I ESA can also lead to unwanted legal issues. Any way one looks at it, an operation can be seriously impacted unnecessarily if the proper Environmental Due Diligence is not conducted.
Possible Uses W. L. Smith & Associates provides local and nationwide Phase I Environmental Site Assessments to meet the requirements established by ASTM StandardE1527-13, AAI, Fannie Mae Delegated Underwriting Servicer (DUS) Guidelines, Freddie Mac Multifamily Seller/ Servicer Guide, or client requirements which may exceed established standards. This may include but is not limited to asbestos surveys, lead-based paint testing, and water testing.
W. L. Smith & Associates consultants are well trained to provide Fannie Mae Physical Needs Assessment Reports (PNAs) and Freddie Mac Property Condition Reports (PCRs). Our Fannie Mae PNAs are designed to comply with the requirements of the Fannie Mae Multifamily Selling and Servicing Guide. The Freddie Mac PCRs are designed to comply with Freddie Mac Multifamily Seller/ Servicer Guide requirements.