Phase I ESA in Florida

Often banks will require a Phase I Environmental Site Assessment prior to issuing a loan for a commercial property.  ​The purpose of a Phase I ESA is to identify, to the extent feasible pursuant to established standards (ASTM E1527-05 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process), recognized environmental conditions (RECs) in connection with a parcel, which could impose environmental liability or restrict the use of the property. The existence of RECs indicate the presence or likely presence of hazardous substances or petroleum products under conditions that indicate a release has occurred, or could occur, into structures or into the ground, groundwater, or surface water of the property. Performance of this practice is intended to reduce, but not eliminate, uncertainty regarding the potential impact of RECs on or in relation to the property, and this practice recognizes reasonable limits of time and cost.

During a Phase 1, Verde follows the established guidelines  to identify any existing, potential, or suspected contamination on the subject parcel and adjacent areas. Verde inspects the property to review the land uses and site conditions, searches local and state regulatory databases of recorded contamination sites, reviews current and historic aerial photographs and soil surveys, interviews applicable public agencies and adjacent property owners, and compiles a results report.   The reports are extremely detailed and require many hours to complete.