Environmental Risk to Buyers Focus of Revised Commercial Property Assessment Standards

摘要

OVER A THOUSAND REAL-ESTATE industry stakeholders in ASTM Committee E50 on Environmental Assessment have approved substantial revisions to the following environmental site assessment standards for commercial real estate:· E 1527, Standard Practice for Environmental Site Assessments:Phase I Environmental Site Assessment Process; and· E 1528, Standard Practice for Environmental Site Assessments;Transaction Screen Process.After four years of discussion, Committee E50 approved 74 revisions in April 2000. Major changes include:· Introduction of the concept of business environmental risk;· Addition of historical recognized environmental condition (HREC) terminology;· Identification of supporting documentation for Phase I reports;· Revised Phase I formats to parallel the standard practice; and· Guidance for the selection of a Phase I environmental professional.