Environmental
Arizona's 'no further action' (NFA) letter from ADEQ for a contaminated site means:
AThe site is certified completely clean with no residual contamination
BADEQ has determined that no further remediation is required based on current conditions and intended land use✓ Correct
CThe owner is permanently protected from all environmental liability
DThe site can be rezoned to any use without restriction
Explanation
A No Further Action (NFA) determination means ADEQ is satisfied that the site poses no unacceptable risk under current conditions and intended use. It does not mean the site is completely clean, and conditions may change if land use changes.
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Key Terms to Know
Adjustable-Rate Mortgage (ARM)
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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