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Video on Phase I ESAs.
Since the latest revision to SBA’s SOP 5010 5 (C), that came out in October 2010, I have been asked some reoccurring questions in regards to the Environmental Requirements on 504 and 7a loans. One of those reoccurring questions is when there is a NAICS Codes match does it mean that I will have to have…
A comprehensive overview of Phase I ESAs, their use and purpose, and the various types of Phase 1s required by different entities.
Phase I ESA QA/QC – how/when do things slip through the cracks?
In accordance to SBA’s SOP 5010 5 (C), when obtaining a 504 or 7a Loan SBA requires an Environmental Investigation of all commercial Property upon which a security interest such as a mortgage, deed of trust, or leasehold deed of trust is offered as security for a loan or debenture. The type and depth of…
You’ve been told you need to have a Phase I Environmental Site Assessment (ESA) and now may be looking for answers to the questions: Why you need one Where you get them How much they cost How long do they take Will it meet the Small Business Administration (SBA) environmental requirements . When ordering a Phase I…
If you are buying a commercial property, you need to do environmental due diligence. The gold standard for due diligence is the Phase I Environmental Site Assessment. The Phase I ESA is basically a research project into the properties current and past use and how these uses could potentially affect the environment. As a buyer,…
On Monday, Freddie Mac released guidance on best practices for engineering and environmental reports. The guidance notes common report issues, advises methods for selecting the best consultants and evaluating environmental and engineering consultant reports, and notes specific responsibilities. Common errors noted include failure to follow requirements of the Freddie Mac Multifamily Seller/Servicer Guide such as…
Entry by JoeDerhake Entry When doing Phase I Environmental Site Assessments, sometime the facts are on the border between a recognized environmental condition and an environmental issue. This blog is my latest in a series of borderline decisions. Here is the scenario: the Phase I ESA finds a classic REC on site. Let’s say we…
One of the many unfortunate effects of the burst in the housing bubble is an overabundance of partially completed subdivisions and erosion control issues due to lack of maintenance. In many cases, these subdivisions have been graded and have been left void of any vegetation. In some cases, they have been partially developed with a…
