In a host of property transactions, the reliance on insurance to secure financing instead of a Phase I, is good news.
A Phase I assessment can typically cost $2,000 or more and does not guarantee that the loan will be granted.
Secured-creditor environmental insurance can offer lenders protection for unknown environmental conditions and even for conditions disclosed by a Phase I assessment, should one have been performed.
Many borrowers are seeking out lenders that accept environmental insurance in place of Phase I due diligence because, unlike Phase I's, borrowers do not have to pay for environmental insurance unless their loan is approved.
For 20 years, Phase I site assessment reports have accompanied commercial real estate loan applications not because they are better, but because they have become a 20-year tradition.
E[acute accent]The residential component of Phase I is planned to address the full spectrum of primary housing needs, from entry-level units to custom homes on view lots.
E[acute accent]The joint venture will be providing land in Phase I for elementary and middle school facilities.
As previously announced in November 2004, CB&I's scope for Phase I
of the project -- which is valued between US$725 - $750 million -- includes a ship unloading system, three full containment 155,000 cubic meter LNG storage tanks, and a regasification and sendout system.
We are encouraged by the results reported by Alkermes for this first Phase I clinical trial of ProLease hGH," said William D.
The Phase I study was designed as follows: A single dose of ProLease hGH (recombinant hGH encapsulated in biodegradable microspheres) was administered as a single subcutaneous injection to 13 growth hormone deficient adults (8 male, 5 female).
Sydney Harland, ARS president and chief executive officer, stated: " The end of our pre-commercialization phase is