Environmental Assessments

C

Phase
 I
 Environmental
 Assessment (ESA)
:

At 
GCI
 we
 understand 
the 
significant 
business
 risks 
and 
complexities 
involved
 with 
commercial property
 transfers,
 refinance 
and
 other 
high 
profile
 real estate
 transactions.

Here
 at 
GCI 
we are 
devoted 
to 
help 
guide 
our customers 
as
seamlessly 
as 
possible
 in
 making
 sound 
business decisions
 on
 every
 transaction
 when
 it
 comes
 to
 environmental
 issues.

 We
 provide
 a thorough 
and
 comprehensive
 report 
in 
adherence 
with 
ASTM
 E1527‐05
 and
 AAI 
Standards.

NEPA
/
SHPO
 Assessment

/
Environmental
 Impact
 Statements
(EIS)

Federal
 Agencies
 are
 required
 by
 federal law
 to
 carry
 out
 Public
 Assistance programs
 in
 accordance
 with
 all
 applicable
 environmental
 regulations.
 This
 includes
 all
 applicable
 local,
 state,
 and
 Federal
 laws
 that
 apply
 to
 the
 protection
 of the
 environment.
 Agencies
 such
 as FEMA
 cannot
 fund
 projects
 until
 the requirements
 of the
National Environmental
 Policy
 Act
(NEPA) have been met.
Regulations
 for 
implementing
 NEPA
 are
 found 
in
 40
 Code
 of
 Federal
 Regulations
 (Council 
on
 Environmental
 Quality)
Sections
 1500‐1508.
Guidelines
 for 
FEMA’s
 handling
 of
 NEPA
 are
 found
 in
 44
 Code
 of
 Federal
 Regulations
 Part
 10.
If
 further
 review
 is
 necessary,
the 
federal
 agency
 may 
prepare,
with
 input
 from
 other
 agencies,
an
 Environmental
 Assessment
 or Environmental
 Impact
 Statement
 to
 determine
 if
 the
 proposed
 action 
may
 have
 a
significant
 effect 
on 
the 
environment.
Other
local,
state,
and
 Federal 
laws
 may
 apply
 to
 the
 review
 process,
such 
as the
 Endangered Species
 Act
or
 the 
Clean
 Water
 Act.
GCI
 will
 use
 the
 appropriate 
NEPA
 document
 as
 a
 decision‐ making
 tool 
in
 the
 project
 approval
 process.

Transaction
 Screens
:

Transaction 
Screens 
represent 
a 
reduced
 scope
 of
 work 
from
 the
 Phase 
I
ESA
 and
 are
 designed
 to
 aid
 in
 developing 
information
 about
 the
 environmental
 condition
 of
 commercial
 real
 estate.
Use
 of 
the 
Real
 Estate
 Transaction
 Screen
 (RETS)
 is
 Intended
 to
 constitute
 appropriate 
inquiry 
for
 the
 purposes
 of
 CERCLA’s
 innocent
 landowner
 defense
 and
 is
 considered
 to
 be
 a
commercially 
prudent
 assessment.


Phase 
II
 Environmental 
Assessments
:

When 
the 
Phase
 I
ESA 
indicates
 the 
need
 for
 actual
 on‐site
s ampling
 and
 analysis,
or
 when
 the
 liabilities
 associated
 with
 the
 transaction
 dictate
 further
 action,
 a
 Phase
 II
 investigation
 is
 needed.
The 
purpose 
of 
this
 investigation 
is to 
obtain
 a better understanding 
of 
the
 potential
 environmental
 liabilities
 for
 the 
subject
 property 
and
 the
 financial 
impacts 
of
 such
 liabilities.
This
 is
 usually
 accomplished
 by
 field
 sampling
 and
 analytical
 laboratory
 testing
 of
 air,
 soil,
groundwater,
and/or
 site
 building
materials
 to
assess
 the
 presence
and extent
 of
 hazardous chemicals
 that
 are
 suspected 
or
 have
 been 
identified 
during 
the
 Phase
 I
 assessment.