Phase I ESAs are the initial stage of environmental due diligence, if there is a potential environmental risk or contamination identified, additional investigation and testing will be required.   BABS environmental team completes comprehensive Phase I ESAs for real estate transactions, property development, bank financing, refinancing and foreclosures, and local, state and federal proactive required due diligence service.  Our ESAs are in accordance with the (1) United States Environmental Protection Agency (USEPA) Standard and Practices for All Appropriate Inquiries (AAI), 40 CFR Part 312 and (2) buildings established by the American Society for Testing and Materials (ASTM) in the Standard Practice for Environmental Site Assessments.

Phase I ESA is a mechanism for gathering information to develop an independent professional opinion about the environmental condition of the property and to identify actual or potential environmental contamination, which may impact the property value or affect claim to an “innocent land owner” exemption following acquisition,

BABS Phase I ESA meet the most current ASTM Standard and involves the following activities:

• Site inspection
• Adjacent/surrounding reconnaissance
• A review of historical documentation (i.e. fire insurance maps, city directories and aerial photographs)
• A review of hazardous material and petroleum product storage, spill and disposal records
• Local, regional and state agency file review
• Interviews with the property owner, tenants and property managers
• A preparation of a report documenting the findings, conclusions and recommendations
• Asbestos, lead and mold evaluation (on request)

BABS Phase I ESA reports can include:

• Wetlands review
• Flood Zone
• Evaluation for mold, asbestos, lead-based paint, and/or radon
• Environmental lien search and Chain of Title review

BABS customize your Phase I Environmental Site Assessments report upon request. Some customizations include:

• Client-specific scopes of work
• Local and Government agencies/reviews
• Standard and Poor’s protocols
• Housing & Urban Development (HUD) requirements
• Small Business Administration (SBA) requirements
• Freddie Mac and Fannie Mae requirements