Phase I Environmental Site Assessments are typically required as part of property
transactions and refinancing. Many lending institutions require a Phase I before
they will approve loans. Phase I’s are also required by SBA and other
state/federal agencies prior to issuing grants.
A Phase I determines whether or not there is potential for soil and/or
groundwater at the subject property. The process involves a review of historical
information, interviews, document review and inspection of the site and
surrounding area to reveal any past or present usage that may have caused
contamination. While no actual samples are taken and analyzed, a detailed site
visit can offer visual evidence of contamination.
If hazardous contamination is suspected, the site may be subject to further
investigation, which Anderson can provide.