posted on June 09, 2011 19:24
PM Environmental, Inc. (PM) was retained to conduct environmental due diligence services associated with a multi-location retail gasoline dispensing stations, convenience stores and bulk plants transaction with a major financial institution.
Phase I Environmental Site Assessments (ESAs) were completed on all of the properties to identify Recognized Environmental Conditions (RECs) and to provide information regarding the Environmental Compliance Status of existing Underground Storage Tank (USTs) and Aboveground Storage Tanks (ASTs). The reports were reviewed by the financial institution which aided the bank in their overall risk evaluation of the properties.
Phase II ESAs were conducted to assess the RECs. Services included Ground Penetrating Radar (GPR) Surveys, drilling soil borings and installing monitoring wells to collect soil, groundwater, and vapr samples to evaluate the extent of contamination, determine relevant receptors and contaminant pathways and applicable clean-up criteria. The results of the Phase II ESAs were used to assess liability and costs associated with clean-up of contamination.