Do you have more questions than answers about the industry’s transition over to a new ASTM Phase I ESA protocol? You’re not alone.
On August 15, 2013, the U.S. Environmental Protection Agency published a Direct Final Rule which proposes to reference the E 1527-13 standard as compliant with the agency’s All Appropriate Inquiries rule (40 CFR Part 312). The agency’s 30-day public comment period just closed and the ASTM standard moves one step closer to publication.
Right now the #1 question in the industry is: When will ASTM E 1527-13 take effect?
At this webinar, two of the experts closest to the ASTM process will share the latest status of the AAI rule amendment and publication of the new Phase I ESA standard.
There are a number of moving pieces in play right now. Tune into this event to learn the latest on the ASTM front, the hot-button issues raised during the public comment period, what happens to E 1527-05 and more. It is an important time for the industry as it prepares to put a new standard into effect and this event will help keep environmental professionals abreast of the process as it unfolds.
Julie Kilgore, President, Wasatch Environmental, Inc., Chair of ASTM E50 Committee on Environmental Assessment, Risk Management and Corrective Action and Chair of the E1527 Task Group
William Weissman, attorney, member of ASTM E50 Executive Subcommittee, retired partner of Venable LLP, Washington, DC
For the first time since 2005, the ASTM E1527 standard has been revised. ASTM submitted the final version to the U.S. Environmental Protection Agency for formal approval of the revised ASTM E 1527 standard as “AAI-compliant.” According to industry insiders, this approval could come as early as this summer. Once the approval process is successfully completed, the E 1527-13 standard would be published by ASTM and take effect immediately upon publication. With the summer only a few months away, now is the time to start thinking about what you can be doing to prepare.
At this complimentary webinar you will learn about:
-Revised REC and HREC definitions, plus introduction of a new term—the CREC
-Clarification on vapor migration and ASTM E2600-10
-Changes to regulatory file reviews
-Clarifications in the language regarding User Responsibilities
-And much more!
The EDR team has been tracking the revision process closely since it began in 2010. Over the past fall/winter season, we educated over 1,000 environmental professionals at our Due Diligence at Dawn (DDD) seminars around the country.
Join EDR and Anthony J. Buonicore, former E1527 Task Group leader, for this webinar and learn what you need to know to comply with the upcoming revisions.
For the first time since 2005, the ASTM E1527 standard is going through a significant revision. Now is the time to start preparing your staff and your clients! The changes to the standard will go into effect immediately once the new version is published in 2013. At this complimentary webinar you will learn about:
-Revised REC and HREC definitions, plus a new term
-Clarification on vapor migration and ASTM E2600-10
-Changes to User Responsibilities and important news about environmental liens
The EDR team has been tracking the revision process closely since it began in 2010. This fall, we have educated over 1,000 environmental professionals at our Due Diligence at Dawn (DDD) seminars around the country.
Join EDR and Anthony J. Buonicore, former E1527 Task Group leader, for this webinar and learn all you need to know to comply with the forthcoming edition of the ASTM E1527 Standard.
Remember when the U.S. Environmental Protection Agency’s All Appropriate Inquiries rule was promulgated in 2005? For the first time since then, there will soon be a new revision to the ASTM E 1527 Standard and the time to begin preparing your staff and educating your clients is now.
The E 1527-13 revision is the result of three years of discussion and debate among many dedicated stakeholders who spent countless hours at ASTM Phase I ESA Task Group meetings and on conference calls examining all parts of the standard and hammering out every word of the revision. The most significant revisions are in the areas of: REC definitions, agency file review, vapor migration/intrusion, user responsibilities and more.
For this event, EDR Insight is fortunate to have the input of three professionals—an environmental professional, a commercial real estate lender and an attorney—who were active with the revision process and who each devoted significant time and expertise to shaping the new revisions.
Join us for this important and timely event as the commercial lending and property risk management industry prepares to transition away from the -05 standard to E 1527-13.
• Environmental due diligence professionals
• Environmental risk managers at financial institutions
Benefits to attendees:
• Insights into specific areas of revision and a deeper understanding of what drove the changes
• More clarity on REC-HREC-CREC definitions
• More clarity on agency file review
• An end user perspective from the lending sector
• An attorney’s take on what the changes mean in the construct of CERCLA liability and commercial property transactions
• Advice on how EPs and lenders should be preparing for E 1527-13
• Potential changes that end users may see in their Phase I ESA reports when E 1527-13 takes effect
When EPA issued its All Appropriate Inquiries rule in 2005 and ASTM followed with the E1527-05 Phase I ESA Standard, greater clarity was brought to the site assessment market for both property owners and environmental professionals. These two documents spelled out the steps needed to obtain a CERCLA liability defense. However, with this clarity came additional confusion: how does a property owner maintain their CERCLA protection after the Phase I has been completed? According to language written by Congress, CERCLA libaility protection begins with AAI, but may also require "continuing obligations" without saying much more about what that might entail. After several years of drafting and debate, ASTM issued the E2790 Standard Guide for Identifying and Complying with Continuing Obligations in July.
What does the standard entail? How will it change your practice? Should prpoerty owners and lenders be concerned? How should it be applied to real-life scenarios? Attorney Tim Haley of Barnes & Thornburg will answer all of these questions and more during a free webinar on October 6, 2011 at 2pm EST.
Tim is not only an experienced environmental attorney, but also contributed to writing the E2790 Standard.
Vapor migration is part of the new Phase I environmental site assessment protocol from ASTM, E 1527-13. In December, the US Environmental Protection Agency blessed the new standard as compliant with the federal All Appropriate Inquiries rule, emphasizing the importance of assessing vapor migration risk as a standard part of Phase I ESAs. US EPA went even further in the December preamble and stated that vapor migration has always been a part of conducting AAI. In light of US EPA’s statements and the emphasis that assessing vapor migration is current standard practice for AAI-compliant Phase I ESAs, how is vapor being addressed in the field? If a Phase I ESA report identifies vapor migration as a Recognized Environmental Condition, or REC, what next? In today’s market of intensely short turnaround times for property transactions, is a vapor migration issue a deal killer? What are the current tools and options to investigate a vapor migration REC under transactional time constraints? When should a buyer walk away from a site potentially impacted by vapor migration? When to mitigate? How are environmental due diligence firms establishing consistent processes for recommending “next steps” for clients when vapor migration issues arise?
This timely webinar will bring together an attorney and two leading technical experts to address head-on the various avenues that firms are taking to assist end users of Phase I ESA reports on how to address vapor migration risk during the deal making process.
The updated SOP was released by the SBA last Friday.
EDR is pleased to host Part II of last week’s webcast where we’ll focus exclusively on changes to the environmental guidelines. This 20-minute webinar is a must attend for anyone originating SBA 504 or 7a loans.
Version J of SOP 50 10 5 represents the agency’s first update to its environmental guidance since 2014 (when it adopted the revised ASTM Phase I E 1527 standard). EDR’s James Haberlen will provide a timely update on what this round of changes mean to the environmental due diligence required on any loans seeking the SBA’s approval.
Change is in the air on the vapor intrusion front. Literally and figuratively. On April 16, the U.S. Environmental Protection Agency released a draft document, the OSWER Final Guidance For Assessing And Mitigating The Vapor Intrusion Pathway From Subsurface Sources To Indoor Air — External Review Draft for public comment. The release of EPA’s guidance comes just months before ASTM is poised to release a revised version of E 1527 that adds definitions of migrate/migration to address the vapor pathway as a potential conduit for contamination.
As attention being placed on vapor risk increases, environmental professionals need to stay abreast of the changes and their implications. With the long-awaited federal guidance now out for public comment, environmental due diligence professionals, lenders, as well as prospective purchasers of properties like drycleaners, gas stations, and other types of properties impacted by petroleum or solvents have a valuable resource for understanding VI risk, assessing it and ultimately, managing it as appropriate for their own risk tolerance. Join us at this webinar to hear the perspectives of three experts on:
• The implications of the federal vapor guidance and an insiders’ unique take on hot button issues;
• How one environmental professional talks to his clients about vapor risk and protects their liability exposure; and
• How vapor risk is being mitigated and managed in today’s deals.
EDR will share the late-breaking changes to the SBA’s SOP 50 10 5—the agency’s first update to its environmental guidance since 2014 (when it adopted the revised ASTM Phase I E 1527 standard). Speakers will share details on the changes coming out October 1 and effective in January 2018. Don’t miss this timely update on what this round of changes mean to the environmental due diligence required on any loans seeking the agency’s approval. Benefits:
-latest statistics on SBA lending volumes
-a primer on SBA’s tiered process for environmental investigations
Join us for the latest!
Vapor intrusion, the migration of volatile chemicals from the subsurface into overlying buildings, presents potential health risks and environmental liability at properties with current or past contamination. The U.S. EPA is preparing its final Vapor Intrusion Guidance for evaluating and assessing risk from VI. The release of EPA’s guidance is scheduled for release a few months before ASTM is expected to publish a revised Phase I environmental site assessment protocol (ASTM E 1527). Among the changes to ASTM E 1527-05 is the addition of new language throughout the standard to include the assessment of vapor migration risk.
EDR is extremely fortunate to offer you a webinar with three speakers who have been performing successful VI investigations for many years, and have been working with ASTM and the U.S. EPA to provide comments on draft documents. With the scheduled release of EPA’s final VI guidance—followed by a revised ASTM E 1527 standard to include vapor intrusion—now is the time to prepare and ensure that due diligence policies include VI and that appropriate science is used to minimize the impact of VI on property deals, including brownfield redevelopment.
It is critical that risk managers understand what these two documents mean in terms of the standard of care and how it might affect their own liability—or that of their borrowers.
Benefits to Lenders:
•Recent regulatory history surrounding vapor intrusion
•Myths about vapor intrusion and mitigation alternatives
•Available data that can be used to evaluate VI risk
•Implications of the new federal guidance document
•What the vapor-related revisions to ASTM E 1527 mean in terms of lenders’ environmental due diligence policies
Benefits to EPs:
•A better understanding of why vapor migration presents a risk to your clients
•A way to begin thinking about how the new guidance and revised ASTM E 1527 standard may necessitate changes to your Phase I ESA process
Following decades of studies, scrutiny and debate, the U.S. EPA updated its TCE’s toxicity profile in the IRIS database, dramatically lowering the toxicity value. For transactional due diligence, this more stringent limit has important implications, including markedly more extensive and expensive cleanup processes. Given the focus on vapor migration in the new ASTM Phase I ESA standard, environmental professionals need to be increasingly cautious when making REC determinations and recommendations to clients.
Adding to the confusion is the significant variability in how regulators are using the updated TCE toxicity profile when making closure decisions at contaminated properties. For instance, U.S. EPA Regions 9, 10 and states like Minnesota, Indiana and Massachusetts (among others) have implemented profoundly different approaches to address TCE risk at contaminated sites. Thus, it is critical for environmental professionals to stay abreast of the how TCE guidance is being interpreted and applied across the country. In the latest development, the Agency for Toxic Substances & Disease Registry is proposing a dramatic change to its TCE toxicity profile for the first time in 18 years. The comment period ended on March 16, 2015, and if the update is finalized in its current form, there will be more intense scrutiny on exposure risks which will further complicate transactional due diligence.
This timely webinar will bring together an attorney and a national subject matter expert to address the various impacts of TCE’s toxicity update on transactional due diligence. This panel will help EPs answer the following questions:
-Does TCE in groundwater constitute a VEC and/or a REC?
-How should an EP manage variability in TCE standards in multi-state transactions?
-How can an EP take steps to minimize exposure to potential liability?
-How can an EP make sense of the science and available guidance?
-How should an EP communicate potential risks associated with TCE to clients?
Join EDR and industry veteran Nick Albergo for an insider's take on:
-The types of issues courts consider during Phase I ESA-related lawsuits
-Practical challenges when addressing diffuse anthropogenic pollution
-Opinions versus recommendations
-When a file review can be deemed complete
-How EPs can avoid common pitfalls in their own practice
Nick Albergo's unique perspective is shaped by years of being called as an expert witness on Phase I litigation. In addition to being a course instructor for ASTM's E 1527-05 standard, Albergo has firsthand experience in the development of ASTM's Phase II ESA standard (E 1903). In this webinar, he will address recent revisions and the standard's place in the marketplace, as well as weigh in on such timely topics as vapor encroachment and continuing obligations under CERCLA.
A number of recent developments, including 2013’s revisions to ASTM E 1527 Phase I environmental site assessment standard, make it more difficult—and risky—to ignore vapor migration during environmental due diligence. EDR Insight has assembled a panel of the most knowledgeable attorneys in the field to help environmental professionals and risk managers at financial institutions answer a common question:
What can happen if vapor-related issues are missed?
This team of experts, with decades of experience advising commercial real estate deals, will share real-world cases of “due diligence gone wrong” from vapor migration-related lawsuits filed as a result of inadequate property investigations and poor lender oversight. This one-time event is an important learning opportunity for any environmental professional who participates in environmental investigations, as well as commercial real estate lenders who extend credit on properties that may be impacted by vapor migration.
Attendees of this webinar will learn:
• Recent developments that have brought vapor migration front and center.
• Why environmental due diligence policies should expressly address vapor migration.
• How federal and state authorities are responding to vapor intrusion concerns—and the implications for buyers, lenders and sellers.
• Steps that environmental professionals and commercial real estate lenders can take to avoid liability related to vapor migration.
• Real-world examples of what can happen if vapor issues are ignored during environmental due diligence.
Educating clients about the importance of addressing vapor intrusion risk on today's real estate deals is one of the top technical challenges that environmental professionals face. Join us as two vapor intrusion experts share their experience from the field. With the science evolving at a rapid rate, VI is the unseen villain that is complicating real estate transfers, financing/re-financing options and brownfield redevelopment. As property transactions get underway after a long downturn--and a large number of properties begin to change hands due to foreclosures, workouts and distressed asset deals--it is critical for environmental professionals to understand how VI, even on properties with NFA letters, can create liability for property owners, tenants and lenders.
One important development involves EPA's efforts to make dramatic changes to its Draft 2002 VI Guidance. David Gillay, a leading environmental attorney, will cover the most significant proposed changes to the EPA's VI guidance from a legal perspective and what these changes mean for Phase I ESA standard operating procedures. Gillay will also provide several recent cases involving VI that highlight the importance of proactively addressing risk upfront.
To help environmental due diligence professionals better understand the VI pathway and its implications for increasing a property purchaser's potential environmental liability, John Sallman, a Senior Principal and Environmental Department Manager at Terracon Consultants, will present on his experience educating clients, how he deals with client resistance, why the VI opportunity differs in states that have guidance versus those that do not, what ASTM's efforts to revise E 1527-05 might mean and why firms need to proactively address VI with clients. Sallman was recently chosen to lead Terracon's Vapor Task Group and will also share what his firm is doing to maintain an internal dialogue on this important topic.