Now, environmental site assessments are a prerequisite to the transfer, mortgaging or collateral financing of industrial or commercial real estate property. The incentive to perform environmental site assessments is found in State and Federal Superfund Laws, which can hold current landowners liable for cleanup costs from past activities.
If the Phase I Environmental Site Assessment (ESA) conducted by Moody indicates that the potential exists for contamination, then we have the capability to do a more detailed evaluation, referred to as a Phase II Environmental
Site Assessment, to determine the nature and extent of contamination.
Moody conducts ESAs in accordance with standards and guidelines set by the American Society of Testing Materials, (ASTM).
We analyze the information gathered during these investigations and provide our clients with a clear and concise report, which evaluates the environmental conditions and potential liabilities at the site. We then work with the client to help evaluate these liabilities and make specific recommendations if additional characterization or remediation work is warranted at the site. The ESA work also points the direction of the potential need for environmental liability protection under the appropriate state's brownfield program.
Most importantly, our in-house environmental drilling capabilities offer clients the advantage of turnkey services, which can decrease the time and money needed to complete these projects.