Series 36 – Cost of Phase II Environmental Site Assessment
The goal of Phase II is to provide a statement on whether or not the property is impacted with contamination that may require cleanup or abatement.
The cost of Phase I is nominal and sellers or buyers usually carry it all. The cost of Phase II can be substantial, we see stakeholders evaluating the benefit within the framework of the entire transaction, and we see them enter into negotiations on carrying the costs.
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.