The accordions below walk you through the basic steps of acquiring proper environmental documentation for commercial properties. The information assumes you have read the Environmental Risk Management Policy.
Commercial Properties
Commercial properties within the context of environmental guidance are all properties excluding 1 to 4 family dwellings and residential parcels, unless they could potentially be contaminated or they are adjacent to a high risk property.
Find Requirements by Property Type and Loan Amount
Consult the Environmental Procedure Matrix to identify your property type and corresponding lending amount. The matrix gives guidance on how to proceed.
Environmental Checklist MUST be Completed
Regardless of the matrix category identified, the borrow is to complete their portion of the Environmental Checklist with the exception of foreclosures/other real estate (ORE) properties. Note: When the matrix identifies Environmental Checklist (singularly), it is to be completed in its entirety.
Exceptions
Lenders have discretion in utilizing the Environmental Checklist or Risk Analysis Report in most cases (consult matrix); however, responsibility and accountability is to be maintained. If visiting the property presents questionable activity such as dead vegetation or storage containers, a Phase I may be in order.
Using VeraCheck
If you have never used VeraCheck or need assistance in setting up an account, please call 888.767.7383 or you may complete on-line by clicking Create an Account. Ensure company name is listed as Capital City Bank.
The VeraCheck option we utilize is the Secured Creditor Risk Report. The other option is for SBA (Small Business) loans and should not be utilized unless your loan is a designated SBA loan.
Using the VeraCheck Risk Analysis Report
The Risk Analysis Report prepared by VeraCheck provides a rating and corresponding commentary/recommendations. These recommendations are to be reviewed and resolved when possible or consultation with Senior Management in Credit Administration is required. See the Environmental Risk Management Policy > Overview for various Risk Type Scores prepared by VeraCheck.
Phase I
If a Phase I is to be completed, use of the Environmental Engagement Letter is advised as it identifies format insurance and assessment requirements.
Note: If the Phase I reveals the likelihood that contamination exists, the report is to be reviewed by an attorney approved by the Bank for a recommendation, in writing, on how to proceed.