What is a Phase III Environmental Site Assessment?

phase I ESA  Due Diligence Where a Phase I is research on a property and a Phase II is testing completed on a property, a Phase III is the physical remediation or installed and managed engineering control of a problem identified by either a Phase I or Phase II. A Phase III could consist of removing an underground storage tank (UST) found on a site, the remediation of soil or groundwater contamination or establishing a deed restriction due to contamination left on site.

 


Property research Phase IFollowing a Phase I & Phase II Environmental Investigation, an environmental professional will supply a report as to what was found in the Phase II and if additional work needs to be completed in order to deem the property as free of potential liability stemming from environmental concerns. If the findings do suggest that Phase III work is necessary then the environmental professional or in New Jersey the LSRP can discuss what options are available to address the environmental issues found. Phase III work is unique in the fact that each job varies because the type of contamination and the size of the area vary from site to site.  Client objectives must be managed in relation to applicable regulations as well as costs to manage the environmental issues.

Phase III ESA Costs

After the Phase III work is completed the area may stil need additional testing to confirm that the property has been properly cleaned up. The ultimate goal of a Phase III is to either rid the property of any potentially harmful environmental contamination or remove the risk of contamination.  Completing a Phase III can mean that the problem is remediated or defined and encapsulated and allowed to remain on site.   Variable cost calculations can be used to recalculate property values when contamination is left in place. 

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