Top Environmental Consultants in Indianapolis
Hiring The Best Indianapolis Environmental Consulting Firm, And Why You Need One
When it comes to the environment, it’s hard to figure out exactly what to do and where to go. There’s the problem of climate change, where many people can’t decide to agree with around 98% of climate scientists. There’s the topic of recycling, which people can’t seem to agree on whether or not it’s actually helpful due to the chemicals created during the recycling process.
The list goes on. The only real conclusion anyone can agree on is that when it comes to the environment, a company has to walk on eggshells. It doesn’t matter what a company does or how a company approaches the problem, someone is going to be angry.
This is why hiring a skilled environmental consulting firm can be salvation for an ethical company.
What Does An Indianapolis Environmental Consulting Firm Do?
Like many consulting firms, an environmental consulting firm exists to help a company streamline and maximize its resources. Sometimes this involves making massive employment cuts. Sometimes this involves CEOs and upper management taking a huge pay cut in order to bolster production. Streamlining and maximizing can take a wide variety of forms, based simply on the needs of the company.
Environmental services is no different. The ways streamlining and maximizing can happen are still incredibly varied, and could still take the form of just about anything. However, the goal with environmental consulting is to find out what changes a company can make to change their impact on the environment.
Why Should A Indianapolis Company Care?
As mentioned, the current political climate can have a company feeling as if they have to walk on eggshells. Everyone has a different idea of how things should be done, sometimes completely conflicting ideas, and it’s up to a company to navigate the situation. After all, angry mobs can often scare off potential clients.
Other than keeping people happy (which is admittedly impossible to do all the time), an environmental consulting company in Indianapolis can often help save your company money. As counter-intuitive as it seems, in many cases the attempt to save money by skirting U.S. environmental laws is actually more expensive than it would be to just do it right!
Your company could be losing hundreds, even thousands of dollars by not knowing the full extent of environmental laws for phase 1 environmental site assessment . Not every company is a large business with millions of dollars to spend on fancy lawyers. A good environmental consulting near Indianapolis can point out what environmental regulations your company is currently breaking, which ones your current policy will force you to break eventually, and which ones can cause the most trouble for your type of business down the line.
Hiring a consultant is simply a great way to ensure you can do everything you need in terms of the environment without having to hire costly lawyers. You won’t have to concern yourself with the fact that you’re not a lawyer, and you won’t have to worry about the U.S. government changing the laws and regulations without you knowing about it. A professional firm can help cover all of those problems and more.
The Importance of a Phase I Environmental Site Assessment in Indianapolis
A Phase I Environmental Site Assessment is usually referred to as a Phase I ESA. Basically, it is a central part of any property investor’s due diligence. It’s important to find a specialty engineering company with a good reputation for conducting these assessments. A complete and accurate report will help companies comply with government regulations and avoid costly mistakes.
To understand these Assessments, it’s important to explain what they are, how the reports are created, and a little bit about the history that led to the development of these standardized reports.
What Are Indianapolis Phase I Environmental Site Assessments?
Very often, these reports are used by companies that consider investing in property for commercial or multi-family housing use. In particular, US-based lenders may require them before granting a commercial loan. However, they may be conducted anywhere in the world. Very often, investors will request these kinds of reports for property in the United States, Europe, Mexico, and Canada. American engineering firms may conduct worldwide assessments. In some cases, they may partner with local firms in other countries.
The report produced must conform to standards and will usually be quite comprehensive. Typically, the assessment consists of these steps:
* Inspectors will visit the sites themselves.
* The assessment firm will also conduct historical research to learn about previous reports.
* The reports considers ground and groundwater on the property.
* The company may interview previous tenants, regulators, and owners.
* The engineering firm will also review local regulations from the state or province, federal government, and even fire departments.
Why Are Phase I ESAs Important?
Some Indianapolis investors may wonder why they have to go to the trouble and expense of conducting an ESA in order to obtain a commercial loan. The Indianapolis commercial lending industry has good reasons for asking for this piece of due diligence. Anybody who has heard about disasters like “Love Canal” or “Valley of the Drums” must have felt sorry for the people who were hurt because they invested in these toxic places.
Developers purchased and developed land that they later sold for housing and commercial use. However, because these places had been used as dumping sites, they were very unhealthy. Of course, the properties were impossible to sell later because nobody wanted to live and work in such polluted places.
These kinds of situations led to more strict controls to make sure that buyers knew what sorts of property they were purchasing. Of course, the laws also helped keep polluters more accountable, so they would be forced to pay for cleanup costs before they could sell their properties.
Why Do Commercial Lenders Care About ESAs
At first, it might seem like the Indianapolis owners and tenants would be the only ones who would really care about the environmental state of a property. After all, Indianapolis lenders have the right to collect payments on their loans if the property is sound or not, right? If the borrower doesn’t pay, the lender has legal recourse. In the real world, things don’t always work out that way.
If a naive investor purchases a property that is later discovered to be polluted or otherwise unsound, that is likely to lead to great financial problems. In turn, those financial issues make it more likely that the borrowers will default on the loan. How can the developers make payments if they can’t collect rents? Attempts to clean up the issues may be so costly that they will drive the developer or investor out of business.
What happens when the borrower defaults on the loan? The lender may be able to repossess. Of course, few lenders will be happy to repossess a polluted or unsafe piece of property. Then they will be stuck with the cleanup costs. This is the simple reason why commercial lenders will require these assessments before they will approve of a loan.
Who Provides A Phase I Environmental Site Assessment in Indianapolis ?
It’s obviously a sound business practice to invest in a Phase I ESA before securing a loan or investing in suspicious property. While quality companies will charge a reasonable fee for all of this work, it’s likely to be a minimal sum when compared to the possibility of discovering hazards after building has already started or even after people are already living and working on a property. In that case, liability for lost property values, wages, and even illnesses or injuries can skyrocket.
Typically, environmental engineering firms specialize in creating these and other kinds of standardized reports. Investors might just take the simple step of asking their lender which companies they suggest. Lenders will have a strong motivation to make sure these reports are comprehensive and accurate because they don’t want to get stuck with a toxic property. It’s a good idea to check out references and previous clients to select a quality ESA provider.