Due Diligence Support for Site Acquisition and Redevelopment

For over ten years E Sciences has provided due diligence support for a large Florida-based developer that purchases and develops or redevelops properties for housing or professional offices. Each year, E Sciences performs due diligence services on dozens of sites including properties intended for multi- family apartments and workforce housing or commercial uses. This client engages us in conducting Phase I and Phase II ESAs, endangered species and wetland surveys, brownfield designations, site assessment and remediation. Some of the projects that demonstrate our expertise in due diligence and follow up services are highlighted below:

 

Workforce Housing Project

E Sciences completed a Phase I and Phase II ESA to support purchase of the property for redevelopment as an affordable housing rental community in Hillsborough County, Florida. Evaluation of historic aerial photographs indicated site disturbance activities in the 1970s. Phase II ESA activities revealed a 2.5-acre area where roadway debris had been used as fill material. E Sciences completed a Site Assessment as a condition of receiving funding through their lending institution. Contaminants of concern identified within this debris area include metals and petroleum.

Deep-dynamic compaction was implemented for building foundation stabilization purposes. Once completed, the SAR was prepared and submitted to FDEP Southwest District for approval. The SAR and RAP were approved in a timely manner. Engineering Controls and Institutional Controls were used within the debris area to ensure the safety of the residents. These controls were implemented and are maintained in accordance with current FDEP policies and procedures. The Brownfield Site Rehabilitation Agreement was also signed shortly after the RAP approval.

 

Sarasota County Multi-Family Housing

E Sciences was contracted to conduct a Phase I ESA for this property that was intended to be developed for workforce housing in an area deemed by HUD to be a high cost area. The property had apparently been receiving stormwater runoff from an adjacent golf course for several years. Contamination from the application of herbicides/pesticides to the golf course had migrated onto the subject site through the stormwater and migration of groundwater. Since the project was being funded by HUD, it was imperative that E Sciences prepared and received regulatory acceptance of a Site Assessment and Remedial Action Plan in accordance with the state rules prior to HUD funding. Direct communications with the regulatory agency and obtaining their cooperation for expedited review times allowed us to acquire their acceptance within the HUD timeframe requirements to fund the project. Subsequent source removal, incorporation of groundwater use restrictions and groundwater monitoring allowed us to obtain the conditional closure required by HUD.

 

Multiple Sites

E Sciences conducted a “fatal flaw” analysis of a portfolio of potential projects prior to submittal to the Florida Housing Finance Corporation for potential funding. E Sciences conducted sufficient environmental and ecological screening to identify potential “fatal flaw” development issues, at minimum cost per site, as the majority of these sites would not receive funding. Upon notification of funding approval for any particular site, E Sciences will prepare a Phase I ESAs and a full ecological assessment.