SS Environmental Site Assessment (Prerequisite) - Phase I ESA

The Phase I ESA information from a prior Environmental Site Assessment may be for used for guidance, but a new Phase I ESA must be must be conducted. First, with regard to timing, lending institutions will typically require a current Phase I ESA, and if they don’t, it’s prudent for the new owner to have one conducted. Imagine the horrors of purchasing an environmentally contaminated site or building without prior knowledge. The costs to mitigate Brownfield sites can be prohibitive. Second, consider what can occur over the period of one year, even if it’s your own property. There may have been an environmental accident on an adjacent or nearby property. If it’s a vacant site (i.e. Greenfield), it could have been used as a dumping ground for hazardous waste, or there could be standing pools of liquids. Strong, pungent, obnoxious odors are observed and the source of the odors identified to the extent that the odors can be visually or physically observed. Look at the Phase I ESA as an inexpensive insurance policy.

Hello.  I still have a question related to the one above.  Specifically, "If a Phase I ESA is more than one year old, a new assessment is required", and at what moment is the duration since the previous ESA measured? I'm working on a project that is just starting out, and we are planning on doing an ESA, but the design phase will last several years and construction a few years after that.  Presumably, the credit language means the ESA need to be done within 12 months of project start, and we won't have to do another ESA within 12 months of submitting our design submittal, right?  As long as the project doesn't go on hold, and/or the owner and the design team is aware of any changes on site, I would think we would be OK, but I just wanted to confirm. Thank you.

No response to Chris's question on timing? Would love to have someone weigh in on this.