VESTRA Resources, Inc. - Environmental Site Assessments

Property Transfer / ESA/ Phase I and Phase II

Site Assessments and Evaluations

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
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, that may pose a future environmental liability.

In general, site assessments will include:

Site reconnaissance of the subject property
Site reconnaissance of the adjoining property
Historical review of current and past activities
Evaluation of existing data on the site
Preparation of a summary report

When a Phase I ESA discovers a risk of contamination to a site, a Phase II ESA will be completed. During a Phase II ESA, samples of soil, groundwater, or materials located on the site are collected according to regulatory agency guidelines by state-certified laboratories and analyzed for suspected contamination present. The laboratory values obtained are then compared to established thresholds to determine whether further action must be taken (i.e., cleanup / remediation).

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.

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 have 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.