New ASTM Vapor Encroachment Standard and Recent Vapor Intrusion Guidance
Utilizing New Tools to Ensure Proper Assessment in Real Estate Transactions
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Wednesday, September 8, 2010
Recorded event now available
This CLE webinar will provide guidance for counsel in real estate transactions on the new ASTM vapor encroachment screening standard and on recent federal and state vapor intrusion guidance. The panel will offer their insights on evaluating and addressing vapor encroachment in transactions.
Description
ASTM released a new standard (E2600-10) in June 2010 to address the assessment of vapor encroachment on real estate transactions. ASTM has also produced E 1527-05 (Phase I Environmental Site Assessment Process) for use in real estate transactions. The new standard replaces ASTM's E 2600-08: it offers a process for evaluating the potential for vapors to impact a property in real estate transactions without inappropriate presumptions or speculation about the quality of indoor air.
Vapor encroachment creates potential risk for owners and prospective buyers and thus could impact property values. Federal and state regulators are increasing their focus on vapor intrusion issues—even previously closed contaminated sites are not exempt from further government scrutiny.
The US Environmental Protection Agency approved the E 1527 screening process for meeting the CERCLA All Appropriate Inquiries requirements. Property owners and their counsel must understand the new standard and its impacts on real estate transactions.
Listen as our authoritative panel, who were the principal drafters of E 2600, examines what E 2600 is and how to use it, will define the relationship between E 2600 and E 1527 and their important differences, and will discuss new developments in vapor intrusion guidance and state regulatory actions.
Outline
- E 2600 Vapor Encroachment Screening Standard Guide
- Background and Rationale
- Overview
- Tier 1 and Tier 2 Screening Methodologies
- Implications for Environmental Professionals conducting Property Environmental Due Diligence
- Relationship Between E 1527 and E 2600
- CERCLA Owner Liability and Liability Protections
- CERCLA All Appropriate Inquiries Requirements
- E 1527 and All Appropriate Inquiries
- Relationship Between E 2600 VE Guide and E 1527 Phase I ESA
- Recent Vapor Intrusion Guidance
- EPA Initiatives and Scheduled Actions
- Recent State VI Guidance
- Recent Regulatory Actions
Benefits
The panel will review these and other key questions:
- What does the new standard call for in the assessment of vapor encroachment?
- What is the relationship between E1527 and E 2600 and what are their key differences?
- How should vapor encroachment be addressed in due diligence in real estate transactions?
Faculty
Edward L. Strohbehn, Jr.,
Partner
Bingham McCutchen, San Francisco
He represents clients in redeveloping contaminated sites, including those that involve vapor intrusion issues. He conducts environmental due diligence, negotiates transactions, and drafts environmental contract provisions for corporate asset and stock acquisitions. He is a member of the ASTM Vapor Intrusion Task Group and worked with the Task Group Chair in drafting the new ASTM E 2600 standard.
Christopher M. Roe,
Partner
Fox Rothschild, Exton, Pa.
He advises on acquisition and disposition of businesses and assets and the redevelopment of brownfield sites and handles enforcement matters and environmental and exposure-related matters. He is a member of ASTM E 50.02, the committee from which the recent vapor intrusion standard, E 2600-08, was issued and is involved in providing input to revision of that standard.
Anthony J. Buonicore, P.E., BCEE, QEP,
Principal
The Buonicore Group, Milford, Conn.
He is a Diplomat in the American Academy of Environmental Engineers and a licensed professional engineer. He chairs the ASTM Vapor Intrusion Task Group, which developed the new ASTM E 2600 Vapor Encroachment Screening Standard Guide, and chaired the ASTM Phase I/Transaction Screen Task Group, which produced the ASTM E 1527 Phase I Environmental Site Assessment Process.
Ordering
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CLE:
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Partner
Loeb & Loeb
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Akin Gump Strauss Hauer & Feld
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U.S. Chamber of Commerce
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