Services

Environmental Site Assessments/Phase I and II

VESTRA has completed hundreds of real estate site evaluations for clients who wish to buy, sell, or transfer properties. These include American Society for Testing of Materials (ASTM) Phase I and Phase II Environmental Site Assessments, environmental liability appraisals, feasibility and cost-benefit analyses, conservation easement/mitigation bank documentation, and detailed site characterization and remediation.

These have been conducted for commercial, multi-residential, industrial, and agricultural properties ranging in size from less than one acre to over 30,000 acres. One of our areas of specialization is working with large rural properties.

TRANSFER SERVICES INCLUDE:

• Phase I and Phase II Environmental Site Assessments
• Environmental / Liability Evaluations
• Environmental Transaction Screens
• Remoteness Determination / Mineral Assessment Reports
• Feasibility and Cost / Benefit Analysis
• Historical and Regulatory Reviews (Current and Past Site Activities)
• Property Line Adjustments
• Conservancy / Preservation Documentation
• Expert Witness

Phase I and Phase II Environmental Site Assessments
Prior to buying or developing a property, it is important to identify any potential risks, since under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA), a buyer, lessor, or lender may be held responsible for remediation on a property, even if a prior owner caused the initial contamination.

All property transfer evaluations are conducted pursuant to ASTM standards. The goal of the site assessments is to identify environmental conditions in connection with the property, to the extent feasible, which may pose a future environmental liability.

Environmental / Liability Evaluation
VESTRA staff members are commonly requested to identify areas of potential concern at former commercial and industrial facilities and to develop cost estimates for addressing these concerns. This type of evaluation is generally completed at sites where historical research indicates that additional site characterization and remedial activities may be required. Clients have used the information to develop cleanup strategies, negotiate property transactions, and support insurance settlements.

Feasibility and Cost Benefit Analysis
We have developed procedures for evaluating the cost and performance of potential remedial alternatives. Using these procedures, we have successfully argued for more reasonable alternatives and cleanup standards.

Conservation Easements / Mitigation Banks
An increasing trend in rural land management is the initiation of conservation easements and the development of mitigation banks.

Remoteness Determination / Mineral Assessment Reports
The purpose of this type of study is to determine if the property is in accordance with federal laws governing the tax deductibility of conservation easements in which the ownership of the surface estate and mineral interests has been separated. The Internal Revenue Code § 170(h)(5)(B)(ii) states that for such donations, the conservation purpose will be considered to be perpetually protected if the probability of surface mining on the property is so remote as to be negligible. Federal Treasure Regulations 26CFR 1.170A-14(g)(4) further state that a deduction will not be denied in the case of certain methods of mining that may have limited localized impact on the real property but that are not irremediably destructive of significant conservation interests.

Our goal is to save our clients time and money, conducting investigations and assessments in a cost-effective manner that fulfills all requirements for the property transfer.

Most easement purchases require due diligence activities prior to completion of the easement acquisition. VESTRA staff has completed numerous conservation easement transactions. In addition to standard due diligence for environmental concerns, VESTRA staff are also qualified to complete current condition reports, biological services, wetlands delineation, habitat improvement plans, and related activities associated with enhancement and monitoring activities.

Contact us at info@vestra.com or call us at (530) 223-2585 for more information.