Environmental Consultants/Property Condition Assessments
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Record Search with Risk Assessment:
The Record Search with Risk Assessment (RSRA) is a reduced scope assessment that was basically created for the US Small Business Administration (SBA). The purpose of the assessment is to determine if it is possible the site is contaminated. The scope of this assessment includes a review of governmental databases, a limited historical search and the preparation of a scoreboard on-which the consultant determines if the site is a 'Low Risk", Elevated Risk" or "High Risk" to have contaminated soil and/or groundwater.
While we do many of these for SBA loans, RSRA assessments are very risky. Very little information is used to assess a site and the scoreboard is problematic.
Still, this assessment is a possibility, especially if a SBA loan is in use.
A Database Assessment a reduced scope assessment that includes the review of same governmental databases as in the Phase I ASTM guideline E 1527 - 13. No site reconnaissance or historical search is included. Results are provided in letter form. databases, a limited historical document review, and a full written report.
This level of assessment is typically performed on non-industrial properties and for clients that are borrowing a relatively low amount of money.
Again, it is highly unlikely that a Database Review would provide for an innocent landowner defense.
Phase I assessments do not come with a freshness or "sell by" date, but that doesn't mean that the information is not perishable.
A typical Phase I assessment is considered current for as little as one year to as many as 20-years (if it is a really good deal for the bank). We recommend that you not rely on an assessment that is five years or older without doing an Update Assessment.
An Update Assessment is used to refresh the Phase I that is beyond it's freshness date. in order to refresh we review the report and all file information, perform a site reconnaissance, review the most recent governmental database, and prepare a letter report detailing any changes that have occurred since the report was completed. Refreshed.
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