A Phase I Environmental Site Assessment (ESA) is a method of evaluating the potential for contamination at a property based on it historical development and uses as well as the history of the nearby adjacent properties. It is a common tool for evaluating risk in real estate transitions. This course covers the purpose of a Phase I ESA in more detail as well as a review of the components of the assessment. A discussion of the 2002 Brownfields Revitalization Act and the All Appropriate Inquiry, both of which resulted in significant changes to the ESA process in 2002 is included. The course closes with a summary of post ESA requirements to maintain the validity of the assessment in the future.
This is a 1 hour course.