ࡱ> 9;8 bjbjcTcT 4">>XX  h$y\\\\\\\""\|0\\\ \\X a: New Standards Set for Environmental Site Assessments For the past several years consultants performing Environmental Site Assessments (ESAs) have wandered without an agreed-to methodology for performing ESAs on commercial real estate properties. Now, the American Society for Testing and Materials (ASTM) has published Standards for these assessments as well as a procedure called Transaction Screen Process for less influenced properties. The purpose of the Standard Practice for Phase I Environmental Site Assessments and the Transaction Screen Process is to define good commercial and customary practice throughout the nation for conducting assessments of parcels of commercial real estate with respect to the range of contaminants within the scope of the Comprehensive Environmental Response Compensation and Liability Act (CERCLA) and petroleum products. As such, this practice is intended to permit a user to satisfy one of the requirements to qualify for the innocent landowner defense to CERCLA liability: that is, the practices that constitute "all appropriate inquiry into the previous ownership and uses of the property consistent with good commercial or customary practice" as defined in federal regulations. An environmental site assessment is usually requested by a lending institution or the buyer's attorney to protect the buyer in case of contamination. Confusion has certainly been enhanced by environmental issues in states (including Indiana) which have enacted property transfer laws concerning environmental concerns. Since May 1990 when Governor Bayh signed into law the Indiana Responsible Property Transfer Law (IRPTL) all sellers are required to notify the buyer and lender of underground storage tanks, presence of hazardous chemicals in reportable quantities or of the property's listing on the Superfund clean-up list. The two recent developments of the ASTM standards for site assessments and the property transfer law, while unrelated in use by buyers and sellers are becoming more familiar to all parties involved in commercial real estate transactions. ASTM Standards on Environmental Site Assessments for commercial real estate were developed by the Committee E-50 on Environmental Assessment. ASTM is a not for profit standards writing organization that published specifications, tests, and practices concerning engineering materials, manufactured products and the environment. ASTM standards are written by voluntary members located around the world in commercial organizations, governmental bodies, and academic institutions. Committee E-50 on Environmental Assessment is the largest of 132 ASTM standards writing committees. It currently has 700 members who formally meet twice a year. They include environmental engineers, real estate and insurance professionals and government representatives. Besides commercial real estate assessments, the committee is also developing standards for storage tanks, pollution prevention, recycling and environmental efficiency, environmental regulatory programs, wetland ecosystems and green buildings. The full 33,000 persons membership of ASTM approved the formation of this environmental committee in May 1990 and the standards were first circulated in mid-May 1993. No reference or attention is focused towards asbestos containing materials, radon gas, lead-based paint, lead in drinking water and wetlands. A number of public and private institutions over the last few years attempted to focus the ESA process, if only for their own use, however none have expended as much effort, or have the clout or recognition of ASTM. This standard will certainly be the accepted format by lending institutions and all involved in real estate transactions. The National Data Processing Division for computer access to limited EPA files was implemented in October 1992. This data base allows on-line access to the EPA's Facility Index System (FINDS) which is the inventory of information on facilities regulated/tracked by EPA programs. A number of fee-based data bases have appeared to assist in providing information which is site specific. Lists and data bases accessible from private vendors include the National Priorities List, CERCLIS Sites, Resource Conservation and Recovery Act (RCRA) listing of hazardous generators, Emergency Response Notification System (ERNS) data base used to collect information on reported releases of oil and hazardous substances, list of Open Dump Sites, State Priority Sites, Leaking Underground Storage Tank Sites and lists of registrants of underground storage tanks. For a copy of the standards titled Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process (Designation E 1527-93) and Standard Practice for Environmental Site Assessments: Transaction Screen Process (Designation E 1528-93) you can contact ASTM at 1916 Race Street, Philadelphia PA 19103 or telephone 2150 299-5487. Copies are $23.00 each. John Thistlethwaite, CRE, SRS, SRI, GAA, CEI, CES is a real estate consultant and appraiser specializing in income-producing real estate and is President of National Assessment Review Services, Inc. which performs site assessments and appraisals for lenders, developers and brokers. Mr. Thistlethwaite holds the designations of Certified Environmental Inspector (CEI) and Certified Environmental Specialist (CES) granted by the Environmental Assessment Association. 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