New Phase 1 Environmental Standards in Effect
In November of 2013, the American Society for Testing and Materials (ASTM) approved a new standard for Phase 1 environmental studies. Here are some of the new requirements
1. The environmental consultant must look into the possibility of hazardous vapors migrating onto the property.
2. If neighboring properties are in public regulatory databases, the environmental consultant must conduct a review of those regulatory files.
3. The environmental consultant must identify recognized environmental conditions even if they have been resolved.
When negotiating a contract where environmental studies will be required, keep in mind that the additional requirements may take additional time, so plan your due diligence accordingly.