On April 19, 2024, EPA issued its long-awaited Final Rule officially listing two key per- and polyfluoroalkyl substances (PFAS), or so-called “forever chemicals,” as “hazardous substances” under the Comprehensive...more
On December 15, 2022, the United States Environmental Protection Agency (EPA) published the Final Rule, entitled "Standards and Practices for All Appropriate Inquiries," updating the Phase I Environmental Site Assessment...more
Every eight years, standards for environmental Phase I reports are updated – and, typically, made more detailed and stringent. The standards were most recently updated in 2021, and the updated version was approved by the U.S....more
On February 13, 2023, the Environmental Protection Agency’s (EPA) final rule amending the All Appropriate Inquiries (AAI) rule took effect. Under the new rule, prospective purchasers of contaminated property can use ASTM...more
The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and...more
For transactions in 2023 and going forward, parties who purchase property will want to be aware of an update applicable to Phase I reports. By final rule issued on December 15, 2022, the U.S. Environmental Protection Agency...more
On December 15, 2022, the Environmental Protection Agency published a final rule recognizing ASTM E1527-21 as the new standard for performing a Phase I Environmental Site Assessment (“ESA”)....more
The United States Environmental Protection Agency ("EPA") adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard adds more refined investigation and...more
Over the past several weeks, there has been a significant level of EPA activity regarding PFAS, including: Proposed Rule on Enhanced PFAS Reporting Requirements for Toxics Release Inventory (“TRI”): On December 5, 2022...more
On November 1, 2021, ASTM International released its revised standard for Phase I Environmental Site Assessments. On March 14, 2022, the U.S. Environmental Protection Agency (the “EPA”) published a Direct Final Rule that...more
The U.S. Environmental Protection Agency (EPA) is in the process of rulemaking to adopt a new national standard for Phase I environmental site assessments. While the EPA had hoped to adopt the new Phase I standard more...more
Throughout 2021 and the first half of 2022, the commercial real estate market in the Southeast has been remarkably active. Despite rising interest rates and economic uncertainty, analysts expect this trend of high activity to...more
Lenders need to consider the scope and extent of the Phase I Environmental Site Assessment (“Phase I ESA”) they routinely utilize in connection with the acquisition and financing of real estate projects. The Environmental...more
For many years, it has been standard practice for prospective purchasers and even tenants to conduct a Phase I Environmental Site Assessment (“ESA”) before acquiring a new property interest. This is for two important reasons:...more
On March 14, 2022, EPA published a Direct Final Rule and a Proposed Rule that would incorporate ASTM International’s (“ASTM”) updated standard for conducting Phase I Environmental Site Assessments (“Phase I ESAs”) into EPA’s...more
On March 14, 2022, the United States Environmental Protection Agency (EPA) issued a direct final rule approving ASTM International (ASTM) Standard E1527-21 as an additional standard meeting the all appropriate inquiry (AAI)...more
It is standard practice today for real property purchasers to conduct an Environmental Phase I Environmental Site Assessment (“Phase I ESA”) or otherwise satisfy the All Appropriate Inquiries (“AAI”) requirement “in...more
As covered in my previous post, the ASTM International (ASTM) released a revised standard for conducting Phase I Environmental Site Assessments (Phase I ESAs) – ASTM E1527-21. While the E1527-21 standard has been available...more
When it comes to pre-acquisition environmental due diligence, a properly prepared Phase I ESA is the ounce of prevention that is worth a pound of cure. Phase I Environmental Site Assessments (“Phase I ESA”) are a routine due...more
Seyfarth Synopsis: The ASTM is in the process of updating its Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process....more
ASTM International (ASTM) has proposed redefining a Controlled Recognized Environmental Condition (CREC). The ASTM's definition, as drafted, confuses risk-based decision-making with the implementation of institutional...more
The Petroleum Marketers Association (“PMAA”) publication Weekly Review published a March 26th article addressing a new ASTM Standard for spill bucket and sump testing. Spill bucket and sump testing is required by 40 C.F.R. §...more
I undertook a presentation at the Arkansas Bankers Association Mega Conference titled: Managing Arkansas Environmental Issues in the Lending/Foreclosure Process ...more
Summer has kicked off with a regulatory push by the United States Environmental Protection Agency (EPA). This alert briefly addresses two recent EPA rulemakings....more
EPA Proposes Rule to eliminate the dual standard for compliance with the “All Appropriate Inquiries” requirement for the Innocent Purchaser, Bona Fide Prospective Purchaser and Contiguous Property Owner Defenses to CERCLA....more