Environmental Site Assessment

What is the difference between a Risk Assessment and a Phase I Environmental Site Assessment? The table below shows you our service comparison of Records Search with Risk Assessment and Phase I Environmental Site Assessment. It gives you a general idea what each service includes.

 

Compare Services

Records Search with Risk Assessment

Phase I Environmental Site Assessment

Risk Rating
Review by Environmental Professional
Historical record Review
Limited
SBA Lenders Standard
(SBA SOP 50 10 5(E))
Testing and Materials Standard
(ASTM E1527-13)
On Site Inspection
Interview with Owners or Occupants of the Property
Evaluation of nearby properties
Records search of federal, state and local database
Fire Department Records
Historical City Directories
Histrocial Aerial Photographs
Sanborn Maps
Findings, Conclusions, and recommendations

Conclusions and Recommendations

Pricing
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Records Search with Risk Assessment vs Phase I Environmental Site Assessment

Records Search with Risk Assessment – Also refer as RSRA determines the properties risk ratings.  A database screens within 1 mile radius of the property to picks up any potential environmental concerns. The RSRA are popularly used on small loans properties. Although sometimes it can be used on property with a loan amount over $150,000, the property cannot be listed under SBA’s NAICS codes and must meet SBA minimum standards.

Phase I Environmental Site Assessment – Also refer as ESA determines any existing and potential environmental contamination of the properties. During the site visit, a visual on site inspection, fire department records search, and interview with owners or occupants of the property are conducted during the process. Historical record is being reviewed for past development of the property and its surrounding area. Last but not least the reporting of the Phase I ESA is very important first step for your due diligence and the property’s environmental liabilities. All Phase I ESA must meet ASTM E1527 standards.

Still not sure if your property need a Records Search with Risk Assessment or Phase I Environmental Site Assessment? Give us a call at (888) 660-9975 or send us an e-mail. We’d be happy to answer all of your questions.

Written by pesassociates