What does a Phase I Environmental Site Assessment report identify?

A Phase I Environmental Site Assessment (ESA) report is primarily designed to identify potential or existing environmental contamination liabilities associated with a property. This assessment provides a critical evaluation of the historical and current uses of the site, in addition to a review of nearby properties that could pose contamination risks. The report includes a thorough investigation of any hazardous materials, oil spills, or recognized environmental conditions that could adversely impact the property. This process is essential for understanding the environmental risks and ensuring that any potential liabilities are accounted for before proceeding with development.

The other options do not align with the core purpose of a Phase I ESA. Identifying potential funding sources for development relates more to financial aspects and is outside the scope of an environmental assessment. Design specifications for new buildings focus on the technical and architectural requirements of a project rather than its environmental history or current status. Current zoning regulations pertain to land use and building codes, which are separate from environmental considerations that a Phase I ESA would address. Thus, the identification of potential or existing environmental contamination liabilities is the most accurate description of the report’s objectives.