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FOR IMMEDIATE RELEASE PUBLIC COMMENTERS MIXED ON WHETHER EPA'S NEW "ALL APPROPRIATE INQUIRIES" RULE WILL HELP OR HINDER COMMERCIAL REAL ESTATE TRANSACTIONS, EDR REPORT FINDS Report also reveals: MILFORD, CT, May 9, 2005 --/WORLD-WIRE/-- Public reaction to the U.S. EPA's proposed "All Appropriate Inquiries" rule, which will govern the way environmental site assessments are conducted, ranged from hearty support to strong opposition, according to a new report published by Environmental Data Resources. Of those who responded to the agency's solicitation for input on the economic impact analysis prepared for the proposed rule, 46% found fault with EPA's estimate that the added cost of meeting AAI requirements would range from $41 to $47 per site assessment. Those opposed maintain that the agency did not take into account all the additional steps necessary to meet the proposed law's requirements and the increase in billing rates associated with using more qualified staff. Estimates of the added costs for performing a site assessment under the AAI law submitted by commenters ranged from $200 to $5,000. By far, the most contentious issue surrounding AAI is EPA's proposed definition of environmental professional, which, according to supporters, will provide more stringent qualifications than current industry standard ASTM E 1527-00 and ensure higher-quality Phase I ESAs. Detractors, however, say the definition will exclude many competent providers and drive up rates. One issue-EPA's requirement that environmental consultants compare a property's fair market value with its purchase price-met with an overwhelmingly negative reaction. Many commenters expressed concern that this added requirement would expose environmental consultants to unnecessary liability; most remarked that certified appraisers are the only parties qualified to determine the relationship between a property's fair market value and its purchase price. EDR's 2005 Public Comments Scorecard: EPA's "All Appropriate Inquiries" Proposed Rule, is based on an analysis of more than 400 public comments-mostly from environmental consultants-in an easy-to-read format that includes 14 "scorecards" on the most critical elements of the proposed AAI rule, along with concise summaries. Designed to help environmental professionals prepare for the new requirements, the report provides an in-depth analysis of public feedback along with insight into what the comments may mean for the rule's implementation. EDR's Public Comments Scorecard also includes color graphics showing the division of comments by position (in favor, opposed, neutral), a concise look at the issues raised, and an analysis of the negative comments. "The impending federal AAI rule is set to change the way environmental consultants conduct site assessments-significantly in some respects," said Dianne Crocker, senior economist and managing director of EDR's Market Research Group. "Rather than take a wait-and-see approach, consultants can read EDR's Public Comments Scorecard for concise analysis of the issues raised by their peers and other parties affected by the rule. They'll get a better understanding for what may change, based on the areas that received the most significant push from the public, and they will be better prepared for those changes, so that they, their staff and their clients will not be caught off guard when the rule is finalized." About the Report On August 26, 2004, EPA officially opened a 90-day public comment period for its proposed all appropriate inquiries rule. EDR's Market Research Group tracked and categorized every comment, ranked them in terms of the strength of the responses, and analyzed the issues raised. The result is EDR's Public Comments Scorecard Report, which can be purchased online at www.edrnet.com/EPscorecard/info.htm or by calling (800) 352-0050. Members of the press are encouraged to call for a free copy. About EDR Environmental Data Resources Inc. (EDR) is the nation's premier provider of environmental risk information services and reports. The company offers current, prior use and regulatory compliance information services tailored to either a specific property address or company name. EDR offers these services to all participants in a real estate transaction, including the lender, environmental engineer, buyer, seller, attorney and insurer. The company's Market Research Group provides strategic data and analysis on environmental due diligence trends, including market surveys, newsletters, and workshops. Established in 1991, EDR's headquarters are in Milford, Connecticut; regional offices are located throughout the United States. EDR is wholly owned by DMG Information Inc., the business information division of Daily Mail and General Trust, plc (DMGT). For more information, visit www.edrnet.com.
Contact: Amy Drescher EDR Public Relations (800) 352-0050 adrescher@edrnet.com
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