Caltha LLP Project Summary
Project: Phase 1 ESA To Meet SBA Lender Requirements
Client: Prospective Buyer
Overview: Caltha LLP conducted a Phase 1 Environmental Site Assessment for this commercial property located in a historic downtown district of a southern Minnesota city. Phase 1 was conducted to meet the requirements of the Bank and the Small Business Administration (SBA) 504 Loan Program. Buildings on the property were constructed in 1884 and had a long and complex history of commercial uses. A focus of the Phase 1 ESA was to determine if any past uses of the property were considered “environmentally sensitive uses” as defined by the SBA environmental policies and procedures.
The Phase 1 environmental also included a Tier I Vapor Encroachment Screening Assessment conducted in accordance with ASTM Standard E2600-10. Numerous current and historic vapor sources were identified in the area. The screening assessment determined which, if any, could be a potential soil vapor encroachment risk for the property being assessed.
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