What is a potential result of a successful Phase I Environmental Site Assessment?

A successful Phase I Environmental Site Assessment primarily aims to identify potential environmental contamination on a property. While it does not directly involve remediation itself, it serves as a crucial first step in the evaluation process. The findings from this assessment can highlight areas where environmental hazards may exist, leading to the need for further investigation or action.

Thus, identifying necessary environmental remediation is a logical outcome, as the Phase I assessment intends to ascertain the environmental condition of the site and any associated liabilities. If the assessment identifies recognized environmental conditions (RECs), it may prompt the need for corrective actions or further studies, such as a Phase II assessment, to address the environmental issues found.

Although other outcomes, such as increased property tax rates or immediate construction approval, might be peripheral considerations, they do not stem directly from the objectives of a Phase I assessment. Exemption from future assessments is also not a result of the Phase I, as ongoing due diligence is often mandated for property owners. Therefore, identifying necessary environmental remediation is the most fitting answer based on the purpose of a Phase I Environmental Site Assessment.