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N E W Y O R K S T A T E H O U S I N G F I N A N C E A G E N C Y - page 2 / 6





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policy requirements.

It is the Agency’s policy, to require a Phase I ESA, in accordance with the revised American Society For Testing and Materials Standard E1527-13, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process (“ASTM E1527-13)".   The Phase I ESA must be prepared by an Environmental Professional ("EP"), as that term is defined in ASTM E1527-13.  In accordance with this revised standard, the Agency will require that the Phase I ESA be dated  180 days or less from the time of financing approval by the Agency’s Board Members.

If “recognized environmental conditions” (RECs) do exist at the site,  as defined by ASTM E1527-13,  a Phase II Environmental Site Assessment Report will be required.


If obvious contamination problems exist or if recognized environmental conditions have been identified in the Phase I ESA, then a Phase II ESA will be required by HFA for each identifiable hazard.

The purpose of the Phase II ESA is typically to ascertain the presence or absence of an uncertain liability (e.g., leaking underground storage tanks) or to quantify the extent of an observed or suspected liability (e.g., soils or groundwater contamination).  The Phase II ESA is confined to an environmental sampling and analysis plan for the environmental hazards identified for the facility or site in the Phase I ESA. Examples of the kind of work to be performed in a Phase II ESA would include: (1) underground storage tank leak testing; (2) soil sampling and analysis; (3) groundwater sampling and analysis; (4) testing of suspected PCB-contaminated soil and/or facilities; and/or (5) investigation of the status of Superfund, RCRA, NYSDEC, or other enforcement actions related to neighboring properties and inactive waste sites.

HFA Form 1510/14

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