The following post was written for this blog by my friend and colleague Randon Wilson.
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It has become the industry standard for prospective purchasers of commercial or industrial property to obtain a Phase I Environmental Site Assessment (Phase I Report) as part of their due diligence. A Phase I Report may identify environmental conditions that are integral to negotiating the purchase. A Phase I Report can also be used to qualify the purchaser for the federal cleanup defenses under CERCLA:
EPA announced on May 24 the awards of $69.3 million in new Brownfields grants to provide communities with funding necessary to assess, clean and redevelop contaminated properties, boost local economies and create jobs while protecting public health.
This article by the Salt Lake Tribune covers the most recent updates regarding the 2010 Red Butte Creek oil spill.
In the April 2012 edition of utah.gov's Environmental Connection Newsletter was the following article on the environmental laws passed in the recent legislative session.
DERR Brownsfield Newsletter
It has become commonplace for prospective buyers to obtain a Phase I Environmental Site Assessment (ESA) prior to purchasing commercial or industrial property.
Trisha Blau with Marsh recently gave an informative presentation to Jones Waldo on the Environmental Insurance Marketplace. Trisha has given me permission to post the presentation here.
Read Lucy's article entitled, "Tenant Beware: Environmental Diligence Recommended Before Taking Possession," in the Enterprise newspaper in the April 9-15, 2012 issue.
Environmental due diligence should be designed to identify contamination issues and assess the extent of the risks.
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