Environmental

What is the significance of a Phase I Environmental Site Assessment for a Hawaii commercial property?

AA. It determines the property's market value
BB. It identifies potential environmental contamination through records review and site inspection✓ Correct
CC. It tests for lead paint and asbestos only
DD. It is required only for properties near active volcanoes

Explanation

A Phase I ESA identifies recognized environmental conditions (RECs) through historical records review, interviews, and site inspection, without sampling or testing.

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