Contaminated Sites / Properties Print

Danger Contaminated AreaA critical issue in evaluating environmentally contaminated properties is whether the site comprises a source, non-source, adjacent or proximate site. These distinctions are critical because the risks can vary considerably between categories. Source sites feature a different set of environmental risks factors than non-source or adjacent properties.

Other critical site-specific determinants are permitted vs accidental discharges, type of contaminants, level of contamination, area bioavailability / risk exposure, remediation stage and extent of third party liabilities.

In order to be able to estimate diminution in value, various loss categories are individually examined. These include cost to remediate, additional vacancy, additional cost of financing, additional cost of insurance, buyer contingency, buyer entrepreneurial incentive, governmental regulations and clean-up approvals, and stigma.

When an appraisal or consulting assignment is commissioned, Alpine Appraisal Services will need to know the type and category of any environmental assessment work that has been completed to date, the findings and estimated costs. As well, we will need to know whether clean up has begun and at what stage the site is at with respect to governmental clean-up timetables.