Environmental
Which of the following Louisiana property types would most likely require a Phase II environmental site assessment before a commercial purchase?
AA newly constructed suburban office building on a greenfield site
BA former dry cleaning facility being converted to a restaurant✓ Correct
CA residential duplex built in 1995
DA vacant agricultural lot with no prior industrial use
Explanation
Former dry cleaning operations are known to use perchloroethylene (PCE) and other chlorinated solvents that commonly contaminate soil and groundwater. A Phase II assessment (soil and groundwater sampling) would be warranted based on the recognized environmental condition identified in a Phase I assessment.
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Key Terms to Know
Contingency
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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