{"id":18594,"date":"2019-02-18T21:40:54","date_gmt":"2019-02-19T02:40:54","guid":{"rendered":"https:\/\/cjs.tqa.temporary.site\/website_34d9c6f0\/?p=18594"},"modified":"2020-11-11T15:11:35","modified_gmt":"2020-11-11T20:11:35","slug":"the-need-for-speed","status":"publish","type":"post","link":"https:\/\/askesa.com\/website_34d9c6f0\/2019\/02\/the-need-for-speed\/","title":{"rendered":"The Need for Speed: Hastening Project Closure"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>As an environmental consultant in\na highly regulated industry, ESA\u2019s scientific studies must be conducted in full\ncompliance with a regulatory process which can, at times, be lengthy. But there\nare proactive strategies that YOU, the client, can apply to help expedite\nproject closure. <\/p>\n\n\n\n<p><strong>Make Time\nIrrelevant<\/strong><\/p>\n\n\n\n<p>This applies to people who intend\nto sell their industrial and commercial properties. <strong><a href=\"https:\/\/askesa.com\/website_34d9c6f0\/2018\/07\/buying-selling-brownfield-properties-part1\/\">As discussed in a prior\ne-newsletter<\/a><\/strong>, identify if environmental issues exist and address them <strong>before<\/strong> you list the property for sale. It is a fact that properties with no environmental issues sell faster and for higher prices than those with environmental impacts.<\/p>\n\n\n\n<p><strong>Be\nResponsive<\/strong><\/p>\n\n\n\n<p>When ESA issues proposals and\nchange orders, sign them upon receipt. Many clients do this. And some do not.\nSome clients take weeks, months, and, in some &nbsp;cases, years to return a signed, executed\ncopy. While there may be good reasons for the delay, often the delay is a\nmatter of avoidance. And, to be candid, that\u2019s okay, too. But if you want to\nhasten your project, return submittals as expeditiously as possible.<\/p>\n\n\n\n<p><strong>Don\u2019t Hang\nYour Hat on Prior Regulatory Approvals<\/strong><\/p>\n\n\n\n<p>People commonly assume that their property is in good shape because they previously received regulatory sign-off on an environmental project. These people are often dismayed to learn that old approvals may no longer be valid. This, too, was addressed at length <a href=\"https:\/\/askesa.com\/website_34d9c6f0\/2018\/11\/expired-are-environmental-closures-valid-forever\/\"><strong>in a prior e-newsletter<\/strong><\/a>.<\/p>\n\n\n\n<p>Here is the simple truth: closure\napprovals are good on the date they are issued. There are a series of reasons\nwhy this may be so:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The cleanup\nstandards may have changed<\/li><li>The\nenvironmental regulations may have changed<\/li><li>The closure\nmay have been for a specific area of concern and not site-wide<\/li><li>Activities\nsubsequent to receipt of the closure approval may have created new impacts.<\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Let\u2019s assume that a seller received a Response Action Outcome (RAO) on February 1, 2018. This approval was not only issued by a Licensed Site Remediation Professional (LSRP), but it was a site-wide RAO in full compliance with the very latest regulations and standards. &nbsp;Can a buyer rely upon this? The answer is maybe. You and your environmental consultant need to know and understand what activities may have occurred in the months following issuance of that RAO. In many circumstances, nothing has occurred that would invalidate that RAO. But prudence dictates that you know for sure. Why? Because once the buyer closes, they become the Responsible Party. So, if there is an environmental issue that needs to be addressed, it becomes their obligation to remedy.<\/p>\n\n\n\n<p><strong>Choose a\nRemedial Approach that Combines Speed with Innovation<\/strong><\/p>\n\n\n\n<p>When remediation is needed,\nalmost invariably it is quicker and less expensive to excavate and dispose of\nimpacted soil. And this becomes complicated when other factors exist. For\nexample, what if the groundwater is also impacted? What then? What if some of\nthe soil impacts extend beneath a building? And what if all or some of the soil\ndisposal can be avoided? ESA uses innovative strategies to address these complications.\nExamples include a special form of groundwater removal, shoring of structures\nto permit soil removal from beneath the structure, and compliance averaging of\nanalytical data and the use of Thiessen Polygons to obviate soil disposal. The\nsooner these alternatives are identified and discussed, the sooner the site can\nbe remediated.<\/p>\n\n\n\n<p><strong>A Special Note\nfor Opportunity Zone Investors and Developers<\/strong><\/p>\n\n\n\n<p>Opportunity Zone investors and\ndevelopers must meet three mandatory time deadlines if they choose to buy a\nproperty in an Opportunity Zone (OZ).<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Following the sale of an asset, an investor has 180 days to deposit all or some of those funds into a Qualified Opportunity Fund (QOF).<\/li><li>The QOF then has 180 days to deploy at least 90% of those funds.<\/li><li>If the QOF buys a property, the fund manager has 31 months to \u201csubstantially improve\u201d the property, beginning after the date of acquisition. This means that building(s) must be improved by more than 100% of their value.<\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Thus, environmental compliance must be completed in a timely fashion as well. In order to do that, it is imperative that Opportunity Zone investors and developers understand and comply with the suggestions described above. Failure to remediate within 31 months could invalidate your Opportunity Zone benefits.<\/p>\n\n\n\n<p><strong>Miscellaneous\nIdeas to Hasten Your Project<\/strong><\/p>\n\n\n\n<p>Sometimes when performing due\ndiligence, we know there will be some form of subsequent investigation\nrequired. It could be sampling, or it could be a geophysical investigation.\nUnder this circumstance, the investigations can be done the same day as the\ninitial site visit. Doing so will not only save money, but it can save time as\nwell \u2013 often a month or more.<\/p>\n\n\n\n<p>Sometimes higher initial\nlaboratory costs can save time and money. For example, the NJDEP requires that\nsoils that exceed impact-to-ground water screening levels be subject to a\nsecond analytical test. That second test usually must be conducted within 14\ndays, meaning that the first test must be completed faster than the standard\nlaboratory turnaround time. This incurs a laboratory surcharge.&nbsp; However, the increased initial cost saves\ntime and money because a second mobilization of field equipment and personnel\nwould be avoided.<\/p>\n\n\n\n<p>Divulge everything you know about\nyour site. Some clients withhold information regarding their property\u2019s history.\nThe due diligence process is thorough and is designed to find hidden issues. Thus,\nclients who are forthright and generous with what they know invariably see\ntheir projects completed in less time and at lower cost. <\/p>\n\n\n\n<p>Some people prefer to find an\nLSRP with little or no backlog. This could be a serious mistake. Experience\ncounts. The best LSRPs have a backlog. Does this mean that you should never use\na relatively inexperienced LSRP? No, of course not. But you must trust your\nconsultant to make such decisions on your behalf. Therefore, ESA recommends\nthat you start your project early and remain patient while we bring your\nproject to closure in the most expeditious way possible.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>As an environmental consultant in a highly regulated industry, ESA\u2019s scientific studies must be conducted in full compliance with a regulatory process which can, at times, be lengthy. But there are proactive strategies that YOU, the client, can apply to help expedite project closure. Make&#8230;<\/p>\n","protected":false},"author":1,"featured_media":18598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[121],"tags":[],"class_list":["post-18594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategies-applications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Need for Speed: Hastening Project Closure<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjs.tqa.temporary.site\/website_34d9c6f0\/2019\/02\/the-need-for-speed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Need for Speed: Hastening Project Closure\" \/>\n<meta property=\"og:description\" content=\"Reading Time:  4 minutesAs an environmental consultant in a highly regulated industry, ESA\u2019s scientific studies must be conducted in full compliance with a regulatory process which can, at times, be lengthy. 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