by Caltha, LLP | Oct 19, 2012 | Due Diligence, Environmental Site Assessment, FAQ
In 2008, ASTM published “Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process” (ASTM E 2018-08) to define the process for conducting a Property Condition Assessment (PCA). Actually, a PCA and an ESA have only minimal...
by Caltha, LLP | Oct 19, 2012 | Due Diligence, Environmental Site Assessment
Effective on October 1, 2011, the Small Business Administration has revised its SOP relating to environmental review and environmental investigations. Any lenders participating in the 7(a) or CDC loan programs must follow the new requirements under SOP 50 10 5(D). As...
by Caltha, LLP | Oct 19, 2012 | Due Diligence, Environmental Site Assessment, FAQ
Why Update An Environmental Site Assessment Report? A Phase 1 ESA is a review of current and historic data sources to assess the potential for contamination on a specific property. Overtime, the information available to conduct this assessment increases. Therefore, a...
by Caltha, LLP | Oct 19, 2012 | Due Diligence, Environmental Site Assessment
A ballot version of the ASTM E1527 Phase I ESA Standard including potential changes was opened up to vote by the E50 committee on September 17, 2012. Voting is open through mid-October. According to ASTM bylaws, standards must be reviewed, updated and voted upon every...
by Caltha, LLP | Oct 16, 2012 | Due Diligence, Environmental Site Assessment, FAQ
The advantage of conducting an ESA most often cited is that it can establish you as an “innocent landowner”, allowing some protection against CERCLA liability. The more tangible benefit of conducting an ESA is the knowledge gained in conducting a formal...
by Caltha, LLP | Oct 16, 2012 | Due Diligence, Environmental Site Assessment, FAQ
This is a common problem. SELLERS are often are very sensitive to unduly concerning employees to potential changes in ownership. In some cases, limited access, such as a walk-through, can be provided, but not access to knowledgeable on-site employees. The ASTM...
