- Home
- Companies
- ERAtech Environmental, Inc.
- Services
- Phase I and Phase II Environmental Site ...
Phase I and Phase II Environmental Site Assessments
A recent survey of major lenders indicated 70% of lending transactions are considered to present an environmental risk. This risk is attributible to the potential for the transfer of liability for cleanup costs as mandated by the Comprehensive Enviromnental Response, Compensation and Liability Act (CERCLA) should the lender become the owner of the property through foreclosure (Rodenhausen G.A. `Lender Liability for Cleanup Costs`, JAPCA Vol. 40 No. 7 1990). Much of the concern over environmental cleanup liability can be eased through an `appropriate inquiry` property assessment prior to acquisition.
ERAtech Environmental Inc. is pleased to offer Phase I and Phase II environmental property assessments to the commercial lending community of southern Ohio. An ERAtech property assessment will provide the information necessary to make informed risk decisions concerning property as acquisitions or collateral.
The ERAtech Phase I assessment involves a visual site inspection and reviewing available information to determine the possibility of contamination. This includes documentation of property history, the past and present owners of the property; all know waste disposal practices at the property; the types, quantities, containments and usages of hazardous substances; and all contaminant releases, violations, and environmental permits. ERAtech adheres to the latest ASTM Standard ( E 1527-00) for Phase I site assessments.
If the results of the Phase I investigation are inconclusive or suggest that the property may be contaminated by hazardous substances, ERAtech is fully capable of proceeding with a Phase II confirmation. An ERAtech Phase II investigation is designed on a case-by-case basis to conclusively determine the extent of contamination and, if present, the associated risk involved with the contaminated property.