Series 31 – Deminimis Condition
This is the thirty-first in a series of light, short and visual talks on taking control of environmental-risk concerns that haunt otherwise lucrative transactions in commercial and industrial properties, and even residences.
The Phase I Environmental Site Assessment provides a tool for the evaluation of environmental-risk concerns in the real-estate transactions. This tool is called the RECOGNIZED ENVIRONMENTAL CONDITION (REC), and we’ve reviewed it in detail in the past seven videos.
And then there’s what we’d like to call the “Un-recognized” condition, the “Deminimis” that is too trivial or minor to merit consideration.
If you find two bad apples in 10 bushels, you’d probably consider the situation deminimis.
Presenting a well-tested technology of remediation of volatile organic compounds from groundwater.
Remediation is not an absolute term. In the environmental-risk lingo it means the reduction of the intensity of the contamination to such levels that will be accepted by the regulatory authorities.
Time and money are connected and it behooves us to outline time schedules when engaged in the Phase I and II environmental site assessments.