Caltha LLP Project Summary
Project: Phase II Limited Site Investigation at Gas Station
Client: Regional Bank
Key Elements: Soil and Groundwater Investigation
Overview: Caltha LLP was retained by a prospective lender to conduct a soil and groundwater investigation for this gas station located in Minnetonka, Minnesota. The investigation was required under internal bank policies which prescribed a site investigation be conducted prior to issuing loans on any current or former gas station properties. The gas station had been in business for many years and had previously reported leaking tanks; the LUST site had been cleaned up and closed, but it was anticipated that the Phase 2 may encounter residual contamination which had been allowed to remain on-site at the time the LUST was closed. As expected, some petroleum impacted soil was found at the site, but it could be determined that additional no releases had occurred since the previous LUST was closed. The bank was able to use the results of the investigation to determine that risks associated with the gas station had been addressed and the bank was able to enter into a loan agreement with a new buyer.
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