ENVIRONMENTAL SITE ASSESSMENT (AAI COMPLIANT PHASE I)

Transcription

1 ENVIRONMENTAL SITE ASSESSMENT (AAI COMPLIANT PHASE I) IPP.MORELAND AVENUE ASSEMBLAGE MORELAND AVENUE ATLANTA, GEORGIA, ONE GROUP PROJECT #A6092 JANUARY 28, 2008 PREPARED FOR: FAIRVIEW COMMERCIAL LENDING 1932 NORTH DRUID HILLS ROAD, SUITE 250 ATLANTA, GEORGIA 30319

2 IPP.MORELAND AVENUE ASSEMBLAGE MORELAND AVENUE ATLANTA, GEORGIA ASSESSMENT COMPONENT ACCEPTABLE ACCEPTABLE WITH EXPLANATION ACCEPTABLE REQUIRES O&M PHASE II SECTION NUMBER SITE BACKGROUND & OPERATING HISTORY YES 4, 5, 7, 8 ON-SITE HAZARDOUS CONDITIONS ADJACENT, ADJOINING, AND/OR NEARBY PROPERTIES MUNICIPAL GOVERNMENT INFORMATION TOPOGRAPHY, SURFACE DRAINAGE, AND FLOOD ZONE SOIL, GEOLOGY, AND GROUNDWATER HAZARDOUS SUBSTANCES PETROLEUM PRODUCTS PCB ELECTRICAL EQUIPMENT YES 4, 7 YES 4.4, 9 YES 5 YES 6.1 YES 6.2 YES 7.2, 10 YES 7.3 YES 7.4 INTERVIEWS YES 8 HISTORIC REVIEW YES 9 ENVIRONMENTAL DATABASE REVIEW YES 10 DATA GAPS YES 11

3 Atlanta, Georgia Page EXECUTIVE SUMMARY 1.1 BACKGROUND Mrs. Andrea Settles of Fairview Commercial Lending retained One Consulting Group, Inc. (One Group), to perform this Phase I (ESA) of the IPP.Moreland Avenue Assemblage (subject property) at Moreland Avenue, Atlanta, Fulton County, Georgia. Robert Brawner of One Group visited the subject property on January 24, 2008 and was unaccompanied during the inspection. The subject property was reportedly constructed in the 1920s and has been modestly improved since its development. It consists of two vacant, one-story, single-family houses. According to information obtained during this investigation, the subject property was first developed with the current improvements from vacant land. 1.2 ITEMS ADDRESSED IN REPORT This ESA included, but was not limited to: site reconnaissance, interviews with the ESA user, subject property owner, and/or key site personnel; a review of state and federal environmental databases for information about the subject and neighboring properties; a review of the subject property's prior-use history; a review of readily ascertainable aerial photographs, historic city directories, insurance maps, and other documentation; an inspection for visible contamination and storage of hazardous substances; a search for hazardous waste generation; a search for PCBcontaining electrical equipment; and a search for underground and aboveground storage tanks. Certain considerations are beyond the scope of an ESA conducted in accordance with the standard practice. Therefore, no testing or sampling of materials (air, building materials, soil, water, or wastes) has been included in the scope of this ESA. In addition, no professional opinion is expressed with regard to such non-scope considerations such as asbestos containing materials, lead based paint, lead in drinking water, radon, or high-voltage power lines on the subject property. ASTM requires that data research go back to 1940 or first development, whichever is earlier. Reasonably ascertainable records were not available back to 1929.

4 Atlanta, Georgia Page CONCLUSIONS One Group has performed a Phase I ESA in conformance with the scope and limitations of ASTM Designation E , Standard Practice for s. Any exceptions to, or deletions from, this practice are described in Section 1.2 of the report. This assessment has revealed no evidence of RECOGNIZED ENVIRONMENTAL CONDITIONS in connection with the subject property, except for the following: Several up-gradient historic underground storage tank and dry cleaning facilities to the north of the subject property have been identified from a review of historic city directories and Sanborn maps. There has been no history of underground storage tank use or hazardous waste generation discovered on the subject property. Groundwater laboratory analytical results, obtained from these historic properties, indicate that offsite contaminant impact to the subject property is unlikely. Latent impact from these identified facilities would most likely be in de minimis conditions as their discovery and subsequent reporting would result in no further investigation and or remediation. Therefore, based on the groundwater laboratory analytical results reviewed during this assessment, these historic, upgradient underground storage tank and dry cleaning facilities are considered a low environmental concern to the subject property. Noteworthy information concerning the subject property includes the following: On-Site Hazardous Conditions: No environmental hazards were discovered on the subject property during the site inspection and/or interviews. Site Background and Operating History: No further environmental hazards were discovered from the review of aerial photographs, historical city directories, interviews, or historical maps. Adjacent, Adjoining, and/or Nearby Properties: No further environmental hazards were discovered on adjacent, adjoining, and/or nearby properties. Topography, Surface Drainage, and Flood Zone: No environmental hazards were discovered concerning topography, surface drainage, and/or flood zone on, adjacent, and/or surrounding the subject property. A subsurface, stormwater impoundment is located in a City of Atlanta sewer easement that runs north to south across the center of the subject property. This utility installation may require additional study prior to redevelopment of the subject property. Soil, Geology, and Groundwater: No environmental hazards concerning soil, geology, and/or groundwater, were discovered on, adjacent, and/or surrounding the subject property.

5 Atlanta, Georgia Page 3 Hazardous Substances: No evidence of hazardous substance use, transportation, generation and/or storage was observed during our inspection of the subject, adjacent, adjoining and/or nearby properties. Petroleum Products: No evidence of petroleum product use, transportation, generation and/or storage was observed during our inspection of the subject, adjacent, adjoining and/or nearby properties. PCB Electrical Equipment Identification: The transformers adjacent to the subject property are owned by Georgia Power and were observed to be in good condition with no leaks. Environmental Database Review: The subject property was not identified on any state or federal regulatory databases from our environmental database review. Data Gaps: No significant data gaps were encountered during this assessment. 1.4 RECOMMENDATIONS One Group recommends no further investigation to determine the presence of recognized environmental conditions on the subject property.

6 Atlanta, Georgia Page CERTIFICATION/LIMITATIONS One Consulting Group, Inc. provides the following certification/limitations: The IPP.Moreland Avenue Assemblage at Moreland Avenue, Atlanta, Fulton County, Georgia, was/were visited by Robert Brawner of One Consulting Group, Inc., on January 24, All work described in this report complies with or exceeds the ASTM Designation E , Standard Practice for s: Phase I Environmental Site Assessment Process. This report pertains only to the current environmental condition of the premises and relates only to areas readily accessible for inspection. Our compensation for preparing this report is not contingent upon our observations or conclusions. To the best of our knowledge, the statements of fact contained herein, on which we based our opinions, conclusions, and recommendations, are true and correct. Information obtained from third parties, and included in this report, is deemed reliable; however, One Group does not represent or warrant the accuracy of this information. This report is intended for use in its entirety. Fairview Commercial Lending, their employees, agents, successors, and assigns may rely upon this report in evaluating a request for an extension of credit (the Mortgage Loan ) to be secured by the subject property. In addition, this report, or a reference to this report, may be included or quoted in any offering circular, private placement memorandum, registration statement, or prospectus, and One Consulting Group, Incorporated, agrees to cooperate in answering questions by any of the above parties in connection with a securitization or transaction involving the Mortgage Loan and/or such securities. This report has no other purpose and should not be relied upon by any other person or entity. ONE CONSULTING GROUP, INC. Robert Brawner Author/Project Manager I declare that, to the best of my professional knowledge and belief, I meet the definition of Environmental Professional as defined in section 312,10 of 40 CFR 312. I have the specific qualifications based on education, training, and experience to assess a property of the nature, history, and setting of the subject property. I have developed and performed the all appropriate inquiries in conformance with the standards and practices set forth in 40 CFR Part 312.