Phase I ESA

Did you know that when you purchase a property, you also acquire its environmental problems!

 

The penalties for failing to comply with the federal and/or state environmental laws may be in the millions of dollars. The law authorizes EPA to seek statutory penalties of up to $32,500 for each day of non-compliance prior to January 12, 2009, and $37,500 for each day thereafter.

A real estate investment may be affected by:

 

  • Prior chemical spills

  • Hazardous waste sites

  • Polychlorinated biphenyls (PCBs)

  • Abandoned industrial operations

  • Underground storage tanks

  • Current business activities

  • Adjacent property histories

 

In any case, real state environmental problems cause a significant impact on the liability found by the buyer, seller, or lending institution. 

 

Phase I Environmental Site Assessments (Phase I ESAs) are non-invasive studies to determine the environmental conditions of a commercial property during transfer of ownership or refinancing. This is the opportunity for the purchaser, investor, or financial institution to do due diligence investigations and verify the material facts of a potential investment. 

 

Zimmetry recognizes the importance of identifying potential hazards when purchasing a property. A Phase I Environmental Site Assessment is the gold standard for evaluating the environmental liability associated with a real estate asset. 

 

Our Phase I ESA service includes:

 

  • Physical inspection of the property

  • Interviews of knowledgeable persons

  • Review of federal, state and local lists of known contaminated sites, hazardous materials users, spills, and storage tanks

  • Evaluation of the potential effects of adjacent properties

  • Property history searches at applicable register of deeds offices

  • Review of existing environmental documents for the property

  • Interpretation of photographs and maps

  • Current and past property uses

 

We offer the peace of mind you deserve through practical business advice on environmental liability.

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P.O. Box 3545

Bayamón, PR 00958

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