Services > Environmental Audits for Property Transactions

Prior to any industrial or commercial real estate transaction, whether it be a purchase by a small company or a foreclosure by a financial lending institution, liability resulting from contamination on the property should be determined. State and Federal Regulations enforced by the United States Environmental Protection Agency (USEPA), including CERCLA (Comprehensive Environmental Response Compensation and Liability Act) and its amendment, SARA (Superfund Amendment and Reauthorization Act), determine who is responsible for past contamination problems and who is responsible for the cleanup of hazardous waste. The RCRA (Resource Conservation and Recovery Act) legislation dictates procedures for the transportation, storage, disposal, and use of hazardous waste. A review of the property in question, with emphasis directed toward the potential application of CERCLA, SARA, and RCRA statutes and all other applicable state regulations, must be conducted as part of "due diligence" during the Phase I environmental audit. Property transactions in the oil and gas industry are controlled by legislation which sets forth rules governing the amount of contamination allowed at a particular location. These regulations describe the amount of Naturally Occurring Radioactive Materials (NORM) and all drilling-fluid type contaminants allowed on producing or non-producing oil and gas properties. Hydro-Environmental Technology, Inc. (HET) personnel have conducted numerous environmental audits for clients ranging from financial institutions and real estate developers to oil and gas exploration companies, the Small Business Administration (SBA), and numerous other types of large and small companies. HET has the personnel and experience to protect client interests in the area of property transactions. Phase I Environmental Audits: • Title research and historical review of subject site and neighboring sites • Review of the state environmental records, including the following: Hazardous and Solid Waste, Water Quality, Underground Storage Tanks,     AirQuality, and Groundwater Protection Divisions • Review of subject site with regard to the CERCLA, RCRA, and Hazardous Waste Spill Notification lists and other pertinent lists • On-site visual inspection of subject site • Interviews with neighboring property owners, city and town officials, and local fire departments • Analysis of past and current aerial photographs to determine site history • Inspection of the site and review of scientific literature to determine the possibility of asbestos and/or radon occurring at the site • Comprehensive written report summarizing findings of this investigation and/or past reports on the subject site Phase II Environmental Audits: • Installation of soil borings and piezometers • Collection of soil and groundwater samples • Development, design, and cost estimate of site remediation, if needed • Geophysical surveys to determine extent of contamination plume in a feasible manner • Written report summarizing findings of field investigations