In November, 2013 the American Society for Testing Material (“ASTM”) adopted ASTM E1527-13 for the assessment of Brownfield properties. An ASTM Task Force has determined that more than 60% of environmental professionals are using the standard for all their Phase I assessments, and the U.S. EPA has adopted the standard for its “All Appropriate Inquiry Rule.” The new standard is more restrictive than the ASTM E1527-05 standard and is arguably more protective of the potential purchaser. Most notably, the new standard requires the environmental professional to assess the site for potential vapor intrusion – a consideration that historically has been outside of the scope of a Phase I. It should be noted that, while the EPA and ASTM have published and adopted the new standard, the new standard specifically states that a potential purchaser may satisfy the all appropriate inquiry rule by following either the ‘05 or ’13 rule.
To determine which standard best fits your due diligence needs, please contact Phillip Hoover.