Environmental Site Assessment Basics: What Lenders, Real Estate Professionals, Regulators and other Users Need to Know

About the Course

This course will provide a high level overview of CERLCA liability, due diligence basics, and the Phase I ESA Standard (E1527). Other diligence standards will also be discussed, including the Transaction Screen (E1528), Property Condition Assessment (E2018), Phase II ESA (E1903), Forestland or Rural Property Assessment (E2247), and Continuing Obligations (E2790).

Learning Outcomes

By the end of this course you will be able to:

• Describe the nature of CERCLA liability and why ESAs are performed
• List the elements of a Phase I ESA
• Identify the characteristics of a conforming Phase I report
• Identify the most common pitfalls/shortcomings of Phase I producers
• Describe how a Phase I ESA findings might impact a user and require additional inquiry/action to meet CERCLA objectives
• Identify alternatives to Phase Is that a user might consider in certain circumstances

Who Should Attend

This course in intended for Users of Phase I ESAs

• Commercial real estate lenders
• Commercial real estate brokers
• Commercial property developers
• Community Development Authorities
• Departments of Transportation
• State Environmental Agencies

Course Outline

Topics covered during this course include:

• 1.Welcome & housekeeping
• 2.Regulatory foundations; why environmental site assessments are needed
• 3.Phase-I due diligence principles
• 4.Terminology
• 5.Elements of a Phase-I
• 6.ESA Reports – What to look for
• 7.Overview of E1528 (transaction screen)
• 8.Overview of E2247 (Forestland and rural property assessments)
• 9.Overview of E1903 Phase II Environmental Site Assessments

ASTM Standards Referenced

This course references the following ASTM Standards and Other Publications:

• E1527 Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process
• E1528 Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process
• E2247 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process for Forestland or Rural Property
• E2790 Standard Guide for Identifying and Complying With Continuing Obligations
• E1903 Standard Practice for Environmental Site Assessments: Phase II Environmental Site Assessment Process
• E2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

Certificate and CEUs

Upon successful completion of this course, learners will receive a certificate of completion with 0.4 CEU's or 4 PDH.