When purchasing commercial real estate in Alberta, why is an environmental site assessment (ESA) particularly important?
Correct Answer
A) Alberta's oil and gas activity, industrial history and farm chemical use raise contamination risks that can mean costly remediation liability for owners
Environmental site assessments are critical in Alberta commercial transactions due to the province's extensive oil and gas industry, historical industrial activity, and agricultural chemical use. Under the Environmental Protection and Enhancement Act, current property owners can be held liable for contamination remediation regardless of whether they caused it. An ESA helps identify contamination risks before purchase.
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