GENERAL SECTION

Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process (ASTM E1527-00)

INTRODUCTION
The American Society for Testing and Materials (ASTM) Designation: E 1527-00 (Phase I Environmental Site Assessment Process) is an updated version, with new requirements, of the original ASTM E 1527-97. Although the standard is largely unchanged pertaining to the methods with which a Phase I is conducted, it identifies more specific reporting requirements. Along with the required changes in the presentation of the report, other changes require the user (client) to provide additional property specific information to the environmental professional performing the assessment. Finally, the introduction of a defined evaluation of “business environmental risk” provides the client with opportunities to identify potential property, or deal, specific issues which are beyond the scope of ASTM E 1527-00.

The introduction of business environmental risk provides options for the user to identify other potential exposures that may affect the value or usability of a property:

• Typical non-scope considerations that users may want assessed include the following: Asbestos-Containing Materials, Radon, Lead-Based Paint, Lead in Drinking Water, Wetlands, Regulatory Compliance, Cultural and Historic Resources, Industrial Hygiene, Health and Safety, Ecological Services, Endangered Species, Indoor Air Quality, and High Voltage Power Lines.
  

The presentation of the report has been modified to provide the user with the following:

• The specific identification and reference of de minimus issues, historical recognized environmental conditions, and current recognized environmental conditions;
• The report shall include the environmental professional’s opinion of the impact on the property of known or suspect environmental conditions; and
• A Findings, Opinion, Conclusions, Reference, Signature and Qualifications Section must be included in the report.

Equally important as the aforementioned changes includes the selection of an environmental professional to assess a property. Consideration should be given to the consultant’s formal education, training, experience, and familiarity with the current Practice E 1527. Consideration should also be given to the firm’s quality assurance/control programs, internal risk management programs, professional liability insurance coverage, and standard terms and conditions.

SUMMARY
If you are involved in property transactions, it is advisable to be aware of the environmental impact, business, financial, and regulatory risks prior to assuming ownership. A qualified environmental professional should be selected to assist you in meeting your business goals. To discuss the specific requirements for, or the value of,
a Phase I Environmental Site Assessment, please contact Adam C. Edrington or Donald A. Fay, C.P. at
(513) 489-2255 or by e-mail at ace@paynefirm.com or daf@paynefirm.com, respectively.