Phase I Enviromental
I currently own a 1 acre commercial property that was used as a coal transfer station about 25 years ago. I purchased the property 3 years ago which is where I operate my business out of. We are thinking of putting up an apartment building on this site and should not have any problem with zoning. I was told by my banker to order a phase I enviromental and was wondering what exactly they check for. And how they do it.
Repoman 
Most phase I environmental surveys I have had done were pretty basic. I usally was left wondering on what and why I spent my money. Usually they check historical data and site conditions via aerial photos, deed records, EPA records, etc. They do nto do a chain of title but they typically do some basic site inspections/visits, look at some historical environmental data, etc. and generate a report for you stating whether your property contains any environmental hazards or issues. You should not ahve any problems I would think.
woodsong,
Thanks for the reply!! Very Helpful!!
Repoman
RepoMan
I recently did a residential property that required an environmental survey. Mine was required by the town, prior to getting my permits. The lot I was building on boardered a conservation area. The same firm that did my site / plot plan also did the environmental stuff. The only additional items that surfaced as a result was specific survey stakes which clearly marked the area and I needed to install some additional silt fencing to protect the area from run-off of my well drilling debris. Hopes this helps, Mark
Phase I environmental just cost me $1700 on seven acres. The provide of the work needed to be approved by the bank. It was as stated above, pretty basic. If it shows a problems, then you are in for some money.
[addsig]
I just got great news that my Phase I came back clean and a "No Further Action" letter together with the report would be sent to us this week.
How long is this inspection good for? If I sell the property 10 years from now will the certification still be valid or will I need a new Phase I?
Repoman
From what I understand they can vary quite a bit from state to state when it comes to price because of the various state regulations. I recently had to order 2 at $1900 each. Cost of doing business.
Repo,
Make sure that you save the packet and contact info. Especially the name of the environmental engineer that did the work. You will need a review done of the property but you will save a bunch of money as all they need to do is confirm the criteria and take new pictures. Sometimes they will want to retake water samples to make sure no waste seapage has occured but it will still be 1/4 of the price of the original Phase 1 as all the historical data research will already be done. ( I was vp for an environmental company ).
Kyle