How much are people paying for the “stamp” vs. an actual expert? Understand Phase II is a totally different ballgame but aren’t people mainly paying for the peace of mind / superfund coverage with Phase Is? Will someone in compliance with ASTM standard that’s a “Certified Environmental Inspector” suffice or do you think it’s worth it to pay an extra 50-75% for an actual hydrogeologist?
Thanks very much.
For the 3 parks I bought so far, I am purely paying for peace of mind. Even without Phase I, I know there is no environmental issue based on the location and history of the parks.
As an EP myself (Environmental Professional) I see absolutely no advantage to getting a geologist to perform your Phase 1. As long as you have an EP perform it, you are just fine. Having said that, you DO want someone that knows what they’re doing perform the site assessment.
Even though your ESA might qualify for CERCLA protection, do you REALLY want to go through all that? Wouldn’t it be better to just catch is up front while it’s the other guys problem?
I just did a Phase 1 about 6 weeks ago, the gas station tanks next door leaked, contaminating the groundwater under the target property. Cleanup was ongoing for over a year and still had not been signed off on.
That was not my client’s problem, but good to know up front.