In our new informational video, Greg Bland, environmental services director, explains two types of environmental reports: a Phase I Environmental Site Assessment (ESA) and a HUD Environmental Assessment.
Greg gives a brief explanation of each type of environmental reporting that is required and what entities need this information. Often environmental reporting is a requirement for a Low Income Housing Tax Credit (LHITC) application and a funding requirement for both LIHTC and New Markets Tax Credit (NMTC) projects.
An important thing to remember is that these reports are different, and one cannot satisfy the other. As Greg stresses in the video, plan early in the development process to determine the type or types of environmental reporting your project will require.
If you would like any clarification, or a more in-depth look at these reports, feel free to contact us, and we would be happy to walk you though them.