What does the term 'Phase I Environmental Site Assessment' refer to?

The term 'Phase I Environmental Site Assessment' specifically refers to a systematic process conducted to identify potential environmental contamination on a property before it is purchased or developed. This assessment primarily involves a review of historical land use, regulatory records, and an inspection of the property to identify any signs of contamination which could pose environmental or health risks. The main objective is to ensure that potential buyers are aware of any existing or past environmental liabilities associated with the property, allowing them to make informed decisions before proceeding with a transaction.

The other options describe different evaluations that do not align with the purpose and scope of a Phase I Environmental Site Assessment. Evaluating structural integrity pertains to building inspections, assessing market value relates to property appraisals, and determining property tax assessments involves local tax regulations and valuations, all of which serve distinct functions separate from environmental assessments.