What does a Phase I Environmental Site Assessment findings report typically include?

A Phase I Environmental Site Assessment (ESA) findings report is designed to evaluate the potential environmental risks associated with a property. It typically includes several key components that address both current conditions and historical uses of the site.

The report generally documents findings from the assessment, which may involve reviewing past ownership records, conducting interviews, and inspecting the property for any signs of contamination or environmental hazards. In addition to these findings, the report identifies any risks associated with those findings that could impact the property's value or marketability, such as the presence of hazardous materials or nearby contamination sources.

Furthermore, the report may provide recommendations for further action based on the findings and risks identified. This could include suggestions for additional environmental testing or measures that might be necessary to mitigate potential issues, thereby ensuring compliance with environmental regulations.

Gathering all this information is critical for stakeholders, including buyers, lenders, and regulatory authorities, as it informs decisions on property transactions and potential future liabilities related to environmental conditions. This comprehensive approach distinguishes a Phase I ESA from options that focus solely on market value, property valuation, or local real estate insights, which are not typically part of an environmental assessment's scope.