The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and ownership, among other things, to evaluate actual and potential environmental conditions. If performed in accordance with the All Appropriate Inquiry
When New York Governor Kathy Hochul executed the 2022-2023 State Budget, it included a 10-year extension to the State’s Brownfield Cleanup Program (“BCP” or “Program). The State’s voluntary, incentive-laced, BCP was set to expire on December 31, 2022. The Program’s extension generally reinforces the State’s commitment to incentivize the remediation and re-use of environmentally-compromised and