267 Site RSRA Portfolio
August Mack was retained by an Ohio-based national bank holding company in order to carry out Record Search with Risk Assessments reviews (RSRAs) for 267 sites, pending their acquisition of another financial services company. These sites were located across Michigan and Wisconsin, as well as in Cleveland, Ohio and Chicago, Illinois. The properties primarily consisted of bank branches, although a few were corporate/commercial office spaces or parking lots.
The goal for this project was for all RSRAs to be completed within 30-40 business days, in order to afford the client maximum time for any needed follow-up review, or to complete Phase I or Phase II environmental site assessments, if required. This necessitated the completion of six to nine reports each day. The process involved desktop assessments and searches of regulatory agency databases. Additional screening reports were created via review of limited historical documents such as city directories, Sanborn maps, and aerial images. Based on this information, a determination of risk was made and each site was assigned a corresponding risk level.
This information was then communicated to the client in a letter which summarized the RSRA’s findings, any other pertinent information, and (if needed) recommended appropriate further action.
The results of the RSRAs lead to the majority of the sites being determined low risk, with a few determined to be of elevated risk, and even fewer determined to be high risk. Using this information, August Mack was then able to work with the client to recommend, coordinate, and execute necessary follow-up actions. Based on the recommendations they received, the client requested August Mack pursue further record review for their elevated and high risk sites, and then move directly into performing Phase II environmental site assessments.