Due Diligence (Phase I/II ESA, PA)
FEA provides environmental due diligence services to financial institutions/lenders, developers, real estate investors, commercial and industrial operators, individual real estate purchasers, and others. Due diligence services include Phase I/Phase II Environmental Site Assessments (Phase I/II ESAs), Preliminary Assessments (PAs), or a combination approach. If needed, FEA’s due diligence services can be completed by professionals who ARE NOT licensed as an LSRP.
The goal of environmental due diligence is to provide the user with a clear understanding of potential environmental liabilities at a property.
Phase I ESA
Phase I Environmental Site Assessments (ESAs) are prepared in accordance with the American Society for Testing and Materials (ASTM) E1527-13 Standard Practice for Environmental Site Assessments, and the All Appropriate Inquiry (AAI) rule (effective November 1, 2006) developed by the US Environmental Protection Agency (EPA). Conducting a Phase I ESA in accordance with ASTM E1527-13 and AAI assists the user in qualifying for innocent landowner status and avoiding liability at the Federal level under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), commonly known as Superfund. If the Phase I ESA identifies the presence of Recognized Environmental Conditions (RECs), it may be necessary complete a Phase II ESA which involves investigation activities such as geophysical surveys, soil sampling, ground water sampling, test pits, or other activities.
New Jersey Preliminary Assessment
A Preliminary Assessment (PA) is prepared in accordance to the New Jersey Department of Environmental Protection (NJDEP) Technical Requirements for Site Remediation and the NJDEP Preliminary Assessment Technical Guidance. Conducting a Preliminary Assessment in accordance with appropriate regulations and guidance assists the user in qualifying for innocent landowner status and avoiding liability at the state level under New Jersey’s Spill Compensation and Control Act. If the PA identifies potentially contaminated Areas of Concern (AOCs) it may be necessary to complete a Site Investigation which involves investigation activities such as geophysical surveys, soil sampling, ground water sampling, test pits, or other activities.
Combined Phase I ESA/PA
FEA can provide a combined Phase I ESA/PA Report which satisfies both Federal and state requirements for innocent purchaser protection.