Apr 01, 2006

The new, fifth edition of ASTM Standards on Environmental Site Assessments for Commercial Real Estate, is now available for purchase from ASTM International, and it includes the latest version of E 1527-05, Standard Practice for Environmental Site Assessments: Phase I ESA Process.

 

The U.S. Environmental Protection Agency has determined that E 1527-05 is in full compliance with the requirements for conducting AAIs as specified in the recently published EPA rule, "Standards and Practices for All Appropriate Inquiries." The EPA AAI document (40 CFR Part 312) and foreword, as well as ASTM E 1528-06, Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process, are also part of the fifth edition.

 

Changes to E 1527-05 fall into the following categories:

Expanded definitions introduced in the 2002 act, providing a questionnaire to assist clients with fulfilling their AAI obligations, and citing the environmental professional definition and declaration required by the EPA AAI regulation.

• Specific action items required by the EPA AAI regulation. For example, an environmental professional must conduct interviews with at least one nearby property owner in the case of abandoned property with evidence of uncontrolled access. Another example would be the specific components of a Phase I that must be conducted within 180 days prior to acquisition of a property."
• Providing a framework and guidance on the more abstract requirements in the EPA AAI regulation, such as language about environmental professionals giving opinions regarding additional appropriate investigation, as well as data gaps affecting the environmental professional’s ability to identify concerns.

 

Changes to E 1528-06 include:

• A limited environmental due diligence screening process not intended to provide CERCLA liability protections and which can be conducted by someone other than an environmental professional.
• Amending the term "recognized environmental condition" to a "potential environmental concern." The new term considers the possibility of hazardous substances or petroleum products on a property under conditions that indicate an existing release, a past release, or a threat of a release into structures on the property or into the ground, ground water, or surface water of the property. While similar to a "recognized environmental condition," a "potential environmental concern" is based on observations or records review and does not consider migration pathways or other scientific considerations requiring the judgment of an environmental professional.

 

Copies of ASTM Standards on Environmental Site Assessments for Commercial Real Estate, Fifth Edition, are available for $80 either as a CD (ISBN: 0-8031-4254-4; stock # E50COMPCD) or in print (75 pages, soft cover, ISBN: 0-8031-4252-8; stock # E50COMP06) by contacting ASTM Customer Service (phone: 610/832-9585, fax: 610/832-9555, or e-mail: https://www.astm.org/contact/), or online at http://www.astm.org.

 

Release #7388