Evaluating Environmental Risk – Part Three
March 9, 2022
When a property is determined to have contaminants present in excess of the Department of Environment, Great Lakes and Energy (EGLE) Residential cleanup criteria, the property meets the definition of either a Facility or Site as defined by Part 201 or Part 213 of NREPA. The preparation and disclosure of a Baseline Environmental Assessment (BEA) provides liability protection to the new owner and/or operator for cleanup of contamination caused by others and is a valuable tool in managing environmental risk.
There are critical timeframes that must be met when conducting and disclosing the BEA. Envirologic’s infographic will help you understand these timeframes, what a BEA report includes and what is expected from the owner or operator of the site.
View the complete infographic (PDF).
Check out our entire series of Due Diligence infographics:
- What is a Phase I ESA? (PDF)
- What is a Phase II ESA? (PDF)
- What is a Baseline Environmental Assessment? (PDF)
- What is Due Care? (PDF)
Questions? Please contact our Manager of Due Diligence Services, Erik Peterson.