What does a recognized environmental condition mean?
A Recognized Environmental Condition (REC) is the presence or likely presence of any hazardous materials or petroleum products in, on, or at a property. An REC does not mean there is confirmed contamination, simply that it is possible.
What are examples of recognized environmental conditions?
ASTM defines the recognized environmental condition in the E1527-21 standard as “(1) the presence of hazardous substances or petroleum products in, on, or at the subject property due to a release to the environment; (2) the likely presence of hazardous substances or petroleum products in, on, or at the subject property …
What is a historical recognized environmental condition?
A Historical Recognized Environmental Condition (HREC) refers to a past release that has been remediated to below “residential” standards and given regulatory closure with no use restrictions.
What is a recognized environmental condition in a Phase I ESA?
A Recognized Environmental Condition, or REC, is a term used in a Phase I ESA report to identify a particular, potential environmental impairment on a property. However, finding a REC, HREC or CREC in a report is no reason to panic if you have a grasp of what they mean for your transaction.
What is a CREC?
The term CREC, or “Controlled REC” refers to a REC with past releases that have been addressed, but where contamination still remains and is subject to the implementation of required activity use limitations (AULs) such as institutional or engineering controls.
What is a vapor encroachment condition?
The ASTM definition of a Vapor Encroachment Concern or “VEC” is “the presence or likely presence of chemical of concern vapors in the subsurface of the target property caused by the release of vapors from contaminated soil and/or groundwater either on or near the target property.”
What is a phase one environmental assessment?
Identifies potential or existing environmental contamination liabilities. A Phase I Environmental Site Assessment, commonly referred to as an ESA, or Phase I ESA, is completed to research the current and historical uses of a property as part of a commercial real estate transaction.
Is the presence of a ust a REC?
Despite what many cut-rate Phase I ESA practitioners out there claim, a REC is only the presence or likely presence of hazardous substances or petroleum products at the subject property. So an underground storage tank is not a REC, it’s the likely presence of petroleum from the underground storage tank that’s the REC.
What is a de minimis condition?
De minimis condition is defined by ASTM as “a condition related to a release that generally does not present a threat to human health or the environment and that generally would not be the subject of an enforcement action if brought to the attention of appropriate governmental agencies.” A de minimis condition is not …
Is a dry cleaner a REC?
Studies have shown that approximately 75% of all dry cleaners have some level of contamination. … As a result of these factors, EPs often list the former or current presence of a dry cleaner as a Recognized Environmental Condition (REC) in a Phase I.
What is an environmental Phase 2 report?
A Phase 2 Environmental Site Assessment or a Phase II Environmental report is a scientific test whereby geologists drill and sample soil, soil-vapor, and groundwater to test for pollution. … A Phase II Environmental also follows ASTM Standards under the responsible charge of a professional geologist.
What is a business environmental risk?
Business Environmental Risk is defined by ASTM as “a risk which can have a material environmental or environmentally-driven impact on the business associated with the current or planned use of a parcel of commercial real estate, not necessarily limited to those environmental issues required to be investigated in this …