Have a small park located in the Southwest Region and currently in escrow to close in three weeks.
Was provided with a Phase 1 environmental report by the current owner that was completed 2 years ago. The overall report went through everything and confirmed what I needed but a soil sample was not done and confirmed approved clean of contamination issues. Went through the GIS Mapping of the area for all environmental cases for the area that are active and it shows no sign of dating back any contamination. This Park did have a gas station the under ground tanks were taken out in the mid 80’s per the GIS site. Any perspective on what you would do or not do I’d like to hear input.
Utilities can eventually be billed back for Water / Sewer / Trash which are set up now but the current owner hans’t implemented billing yet. Electric is on 3 master meters and trying to determine the most cost inefficient way to pass these onto the residents. The current set up on master meter is inefficient and most likely will make for more management for collections.
Knowing that smaller parks are more difficult to finance does anybody here have a contact that I may reach out to discuss this park in regards to refinancing?
In advance, thank you for your input!