 |
ENVIRONMENTAL SITE ASSESSMENTS |
Real estate transactions must be approached with respect to potential regulatory action based upon the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Phase I Environmental Assessments are designed to satisfy one of the requirements to qualify for the innocent landowner defense to CERCLA liability. Phase I Environmental Assessments are designed to document that “all appropriate inquiry into the previous ownership and uses of the property consistent with good commercial and customary practice” as defined in 42 USC § 9601(35)(B) have been undertaken. Olympus Technical Services performs Phase I Environmental Assessments following the Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment Process as defined in ASTM E 1527-00.
Olympus Technical Services recognizes that real estate transactions often require Phase I Environmental Assessments be conducted on a time-critical basis. Our turnaround time for these assessments typically averages three weeks and, as necessary, Olympus Technical Services will work with its clients to expedite the assessment process to meet transaction closing deadlines.
Olympus Technical Services’ Phase I Environmental Assessments typically involve:
