The industry of property assessment and remediation has evolved and matured since its inception in the 1970’s. Any property can be subjected to regulation, and many land uses can impact environmental quality. This list of the 10 C’s of Environmental Risk Management provides an interesting perspective of a healthy and necessary environmental market. 1. Common… Read More...
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In the previous blog, we introduced two closely related priorities: maintaining and restoring property value, and discussed the first of those. Now let’s take a look at the second. Read More...
These rules and programs have offered a solution to existing property concerns, as well as a method to prevent future concerns. They can help maintain a property’s value by keeping environmental conditions from deteriorating, and by safely containing potential contaminants. Read More...
Initially, impacted properties do have reduced value—but sometimes, that is exactly what can make them strong investment opportunities. Because if the environmental impact can be quantified, the value of the property (including the impact) can be appraised. Decisions regarding the purchase price, loan amount, loan to value, resale potential, and overall credit decisions can all… Read More...
In 1986, Congress passed an amendment to Superfund known as the Superfund Amendment and Reauthorization Act (SARA). This amendment incorporated a very commonly used phrase: “all appropriate inquiry consistent with good commercial practice”—a phrase sometimes referenced simply by the acronym “AAI.” The concept of AAI is based on the ancient principle of caveat emptor (“buyer… Read More...
It all started with the Love Canal. William T. Love, a 19th Century entrepreneur, decided he was going to build a city from scratch. His plan was to generate hydroelectric power from the Niagara River. He built a one-mile long canal, ran out of money, and abandoned the project. The Hooker Chemical Company and other… Read More...
Environmental Risk Management, Inc. (ERMI) personnel recently aided a youth camp in the village of Sangaj in Novi Sad, Serbia. Read More...