Phase I Environmental Site Assessment Report Record No. 101650317 17771-17789 Panama City Beach Parkway; 17690 Front Beach Road Panama City Beach, FL 32413
Prepared For:
Federal Deposit Insurance Corporation (FDIC) as Receiver for Peoples First Community Bank,Bank No. 10165, c/o CBRE 2001 Ross Avenue, 33rd Floor Dallas, TX 75201
Prepared By:
Tetra Tech, Inc. 17885 Von Karman Avenue Irvine, CA 92614
TETRA TECH PROJECT T24023.003
2010-08-25
17885 Von Karman Avenue, Suite 500 Irvine, CA 92614 Office: (949) 809-5000 Fax: (949) 809-5010
August 25, 2010
Mr. Jon Walker (CB Richard Ellis, Inc. [CBRE]) Federal Deposit Insurance Corporation (FDIC) as Receiver for Peoples First Community Bank, Bank No. 10165 c/o CBRE 2001 Ross Avenue, 33rd Floor Dallas, TX 75201
RE: Phase I Environmental Site Assessment Record No. 101650317 17771-17789 Panama City Parkway and 17690 Front Beach Road Panama City Beach, Florida 32413 Project No. T24023.003
Dear Mr. Walker:
Tetra Tech, Inc. (Tetra Tech) is pleased to submit this Phase I Environmental Site Assessment (ESA) report to Federal Deposit Insurance Corporation (FDIC), as Receiver for Peoples First Community Bank, Bank No. 10165, c/o CBRE, for the above-referenced property (the Site).
Tetra Tech found one recognized environmental conditions (RECs), no historical RECs (HRECs), no potential environmental concerns (PECs), and three business environmental risks (BERs) in connection with the Site.
It is Tetra Tech’s understanding that this ESA is being requested in conjunction with due diligence activities for the Site by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165. Tetra Tech recognizes that this report is to be used exclusively by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165. It is a report upon which the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165, can rely.
Mr. Jon Walker 2 Tetra Tech, Inc. FDIC, as Receiver for 17771-17789 Panama City Parkway Phase I ESA Peoples First Community Bank, and 17690 Front Beach Road Record No. 101650317 Bank No. 10165 Panama City Beach, Fl 32413 Project No. T24023.003 August 25, 2010
We appreciate the opportunity to provide you with these services. Please do not hesitate to contact us at your convenience should you have any questions or comments regarding this report or our findings. It has been a pleasure working with you on this transaction.
Sincerely,
TETRA TECH, INC.
STEVEN GROD, REA 07806 JON R. LOVEGREEN, CPG No. 4379 Project Manager Manager, Private Practice Group (PPG) Phone: 949.809.5076 Phone: 949.809.5060
Enclosure TABLE OF CONTENTS
1.0 General Information...... 1 2.0 Executive Summary...... 2 2.1 Findings, Opinions, and Conclusions...... 3 2.2 Recommendations...... 4 3.0 Introduction...... 5 3.1 Purpose...... 5 3.2 Scope of Work...... 5 3.3 Signi®cant Assumptions...... 6 3.4 Limitations and Exceptions...... 6 3.5 Deviations...... 7 3.6 Special Terms and Conditions...... 7 3.7 Reliance...... 7 3.8 Data Gaps...... 7 4.0 Site Description...... 8 4.1 Location and Legal Description...... 8 4.2 Site and Vicinity Description...... 8 4.3 Current Use of Property...... 8 4.4 Description of Structures, Roads, and Other Improvements...... 8 4.5 Adjoining Property Information...... 8 5.0 User Provided Information...... 10 5.1 Actual or Specialized Knowledge...... 10 5.2 Commonly Known or Reasonably Ascertainable Information...... 10 5.3 Valuation Reduction for Environmental Issues...... 10 5.4 Owner, Property Manager, and Occupant Information...... 10 5.5 Land Title and Judicial Records for Environmental Liens or Activity and Use Limitations (AULS)...... 10 5.6 Reason For Performing Phase I ESA...... 10 6.0 Records Review...... 11 6.1 Environmental Database Records Search...... 11 6.2 Additional Environmental Record Sources...... 12 6.3 Physical Setting Sources...... 13 6.3.1 Surface Water Bodies...... 13 6.3.2 Geology and Hydrogeology...... 13 6.3.3 Soils...... 13 6.3.4 Hydrology...... 13 6.4 Historical Use...... 13 6.4.1 Historical Summary...... 13 6.4.2 Title Records...... 14 6.4.3 Previous Environmental Investigations...... 15 6.5 Environmental Liens and Activity/Use Limitations (AULs)...... 15 7.0 Site Reconnaissance...... 16 7.1 Methodology and Limiting Conditions...... 16 7.2 Site Visit Findings...... 16
TETRA TECH, INC. PROJECT NO. T24023.003 RECORD NO. 101650317 TABLE OF CONTENTS
7.2.1 Hazardous Substances...... 16 7.2.2 Petroleum Products...... 16 7.2.3 Underground Storage Tanks (USTs)...... 16 7.2.4 Aboveground Storage Tanks (ASTs)...... 16 7.2.5 Other Suspect Containers...... 16 7.2.6 Equipment Potentially Containing Polychlorinated Biphenyls (PCBs)...... 16 7.2.7 Interior Staining/Corrosion...... 17 7.2.8 Discharge Features...... 17 7.2.9 Pits, Ponds, and Lagoons...... 17 7.2.10 Solid Waste Dumping/Land®lls...... 17 7.2.11 Stained Soil/Stressed Vegetation...... 17 7.2.12 Wells...... 17 7.2.13 Storm Water/Wastewater...... 17 7.2.14 Drinking Water...... 17 7.2.15 Mercury...... 17 7.2.16 Air Emissions...... 17 7.2.17 Dry Cleaning Operations...... 18 7.2.18 Environmental Non-Compliance Issues...... 18 8.0 Interviews...... 19 9.0 Other Environmental Considerations...... 20 9.1 Asbestos-Containing Materials (ACMs)...... 20 9.2 Radon...... 20 9.3 Wetlands...... 20 9.4 Moisture Intrusion...... 20 9.5 Site Investigation and Review of Special Resources...... 20 10.0 References...... 21
TETRA TECH, INC. PROJECT NO. T24023.003 RECORD NO. 101650317 TABLE OF CONTENTS
Appendices Figures Photographs Historical Research Regulatory Records Records of Communication Resumes/Quali®cations FDIC Scope of Work Phase I ESA Shelf Life Summary
TETRA TECH, INC. PROJECT NO. T24023.003 RECORD NO. 101650317 1.0 General Information
Asset Information: Name and Address of Account Officer: Project Name: FDIC TO-43 Jon Walker (CB Richard Ellis, Inc. [CBRE]) Project Number: T24023.003 Federal Deposit Insurance Corporation (FDIC) as Receiver Asset Type: Real Estate for Peoples First Community Bank,Bank No. 10165, c/o Asset Number: 101650317 CBRE 2001 Ross Avenue, 33rd Floor Record No. 101650317 Dallas, TX 75201 17771-17789 Panama City Beach Parkway; 17690 Front Beach Road Panama City Beach, FL 32413 Latitude, Longitude: 30.235800, -85.909900 Name of Financial Institution: Site Access Contact: Jon Walker Peoples First Community Bank Site Visit Date: 2010-05-11 Report Date: 2010-08-25 City and State of Financial Institution: Panama City, FL Consultant Information: Tetra Tech, Inc. 17885 Von Karman Avenue Irvine, CA 92614 Telephone: 949-809-5000 Fax: 949-809-5010
FDIC Service Center responsible for property: Mike Hein, 550 17th St. NW, F-8004, Washington, DC 20429 Performed the Site Reconnaissance: Ms. Katie Newman Compiled Report Data and Wrote the Phase I ESA Report: Ms. Tanya MacLean Provided Technical Review: Mr. Steven Grod and Mr. Jon Lovegreen The signatures of Ms. MacLean, Mr. Grod, and Mr. Lovegreen are included in this Section of the report.
Tanya Maclean Steven Grod Due Diligence Scientist Project Manager
Jon R. Lovegreen Manager, Private Practice Group (PPG)
Certification: I declare that, to the best of my professional knowledge and belief, I meet the definition of Environmental Professional as defined in 40 CFR Part 312. I have the specific qualifications based on education, training, and experience to assess a property of the nature, history, and setting of the subject property. I have developed and performed the all appropriate inquiries in conformance with the standards and practices set forth in 40 CFR Part 312.
Jon R. Lovegreen - Manager, Private Practice Group (PPG)
TETRA TECH, INC. PROJECT NO. T24023.003 1 RECORD NO. 101650317 2.0 Executive Summary
This Phase I Environmental Site Assessment (ESA) was prepared for the Federal Deposit Insurance Corporation (FDIC) under the Subcontractor Agreement between Tetra Tech, Inc. (Tetra Tech) and CB Richard Ellis, Inc. (CBRE), dated February 26, 2009, and Subcontract Agreement Task Order TO-43, dated February 1, 2010. Tetra Tech conducted a Phase I ESA of the property referenced as Record No. 101650317 at 17771-17789 Panama City Beach Parkway and 17690 Front Beach Road, Panama City Beach, Florida, 32413 (Site). The assessment included a visual reconnaissance of the Site, visual inspection of the surrounding properties from curbside, review of historical ownership and use, visual asbestos and lead-based paint surveys, review of regulatory listings, and interviews with persons knowledgeable about the Site. The following provides a summary of Tetra Tech's findings, conclusions, and recommendations.
A Site visit was conducted by Tetra Tech representative Katie Newman on May 11, 2010. The Site is generally located between Panama City Beach Parkway to the north and Front Beach Road to the south, with the northwest corner of the Site located approximately 100 feet southeast of the intersection of Panama City Beach Parkway and Ashley Drive, in Panama City Beach, Florida. The Site is located on approximately 21.8 acres of land. According to information on file at the Bay County Property Assessor's office and provided to Tetra Tech by CBRE, the Site is comprised of nine parcels that are identified as Assessor's Parcel Numbers 38322-000-000, 38322-005-000, 38322-005-010, 38322-006-000, 38322-007-000, 38322-008-000, 38322-050-000, 38323-000-000, and 38461-000-000 and are reported to be owned by Peoples First Community Bank. According to information from the Bay County Property Appraiser records, the Site has a zoning designation of planned unit development (PUD). Site addresses include: 17771, 17773, 17775, 17785, 17787, and 17789 Panama City Beach Parkway and 17690 Front Beach Road.
The Site is currently developed with an approximate 7,300 square-foot unoccupied commercial/office building constructed in 1990. A fenced exterior storage area is located east of the Site building. The Site building is of modular metal construction with a concrete foundation and metal roof. A sign on the Site building indicated it was previously occupied by Ibis Lake Preview Center. Possible construction debris was observed adjacent and east of the Site building and included bricks, pavers, and temporary fencing. Other than the Site building, the remainder of the Site is improved with asphalt-paved parking, landscaping, and concrete walkways. A small man-made lake is located on the northwestern part of the Site. Except for the building and man-made lake, much of the northern part of the Site is graded land. Most of the south part of the Site is covered with dense vegetation/wooded areas. No areas of stressed vegetation were observed at the Site.
According to historical records reviewed, the Site was undeveloped or vacant land from at least 1943 until the existing building was constructed in 1990. A second Site building formerly located adjacent and west of the existing building appears to have been of constructed around the same time as the existing building but had been removed/demolished by at least 2007. No historical Site tenants except for Ibis Lake Preview Center were found during the conduct of this assessment.
Fluorescent light bulbs/tubes were observed in the Site building. Fluorescent light bulbs/tubes contain mercury. No staining or other evidence of damage was observed. The presence of fluorescent light bulbs/tubes is considered to be a de minimis condition.
A total of four 5-gallon containers of hydraulic fluid and gear oil on a concrete walkway outside the east side of the building. An approximate 2-gallon open tub with what appeared to be water with algae growth inside was observed next to the 5-gallon containers; however, this could not be confirmed. As the containers appear to have been abandoned by the previous tenant, they should be considered to be hazardous waste. Approximately 10 square feet of staining/spillage was observed around the containers and on the concrete. Some of the spillage was observed to have run off onto an adjacent landscaped area and a small area (<2 square feet) of staining was observed. As some of the hydraulic oil/gear oil has impacted an unpaved landscaped area, the staining/spillage is considered to be a recognized environmental condition (REC) to the Site.
Some water damage/moisture intrusion was observed on acoustic ceiling tiles, walls and carpeting in an office in the Site building. Some light brown staining (approximately two square feet) was observed on one of the walls. A damaged acoustic ceiling tile was observed on the floor. The staining and apparent water damage/moisture intrusion is considered to be a business environmental risk (BER).
Site observations and the information reviewed for this assessment indicated no recognized environmental conditions (RECs), no historical RECs (HRECs), no potential environmental concerns (PECs), and no business environmental risks (BERs) associated with the Site regarding environmental liens, activity and use limitations (AULs), underground storage tanks (USTs), aboveground storage tanks (ASTs), asbestos-containing materials (ACMs), radon, lead-based paint (LBP), hazardous materials usage, solid waste management, polychlorinated biphenyls (PCBs), water supply, wastewater, storm water, surface water, air emissions, dry cleaners, environmental non-compliance issues, or data gaps.
TETRA TECH, INC. PROJECT NO. T24023.003 2 RECORD NO. 101650317 2.0 Executive Summary (continued)
Adjacent properties to the Site include: an office building, undeveloped land, and commercial businesses (Ace Hardware, Home Helpers, and South Bay Lumber) to the north beyond Panama City Beach Parkway; residential properties and a motel to the east; Splash Resort and residential properties to the south beyond Beach Front Road; and Splash Resort and residential properties to the west. The northern and southern portions of the property are not contiguous and are divided by a proposed residential subdivision that includes graded residential lots, street/roadways, and master property/homeowner property (common areas, trails, swimming pool and associated bath house, mail kiosk, open areas, and wetland areas). No open space, recreational, historical, cultural, or conservation concerns associated with adjacent properties were noted.
The Site was listed in one of the Federal, State, and local regulatory agency databases reviewed for this Phase I ESA: USEPA FINDS database. The listing pertained to the Florida Environmental System Today Application (FIESTA) Data Maintenance System database maintained by the Florida Department of Environmental Protection (FDEP). The limited information available on the USEPA and FDEP publicly accessible databases indicates the listing may have pertained to registering with the agency for potential wastewater/storm water discharges associated with Site grading activities. This is not considered to be an environmental concern to the Site.
Two off-Site properties were listed in the Federal, State, and local regulatory agency databases reviewed for this Phase I ESA: both AST facilities (none located adjacent to the Site). The databases were reviewed for ASTM search distances. Based on information contained in the database report, distance from the Site, presumed groundwater flow direction, and/or regulatory agency status, the off-Site facilities listed in the database report are not considered to be a REC or PEC to the Site.
Based on review of aerial photographs, maps, Site reconnaissance, and other information obtained during the completion of this Phase I ESA, the Site is a Natural Area or contains a Natural Area as defined in the FDIC Scope of Work for Phase I ESAs (2006); therefore, a review of Special Resources was performed. No RECs or PECs were found associated with the Site for the following Special Resources: endangered species, covered property (Coastal Barrier Improvement Act), wild and scenic rivers, areas of scientific significance, wilderness areas, national natural landmarks, undeveloped sole source aquifers, archaeological resources/historic sites and structures, recreational areas, and undeveloped coastal zones/coastal barrier units.
According to wetlands information on the in the EDR NEPACheck® report and wetlands information on the United States Fish and Wildlife Service (USFWS) website, wetlands areas are located across several areas of the Site in a general north-south direction. Wetlands areas are also located adjacent to the east of the Site and on the property that divides the north and south parts of the Site. No wetlands delineation survey for the Site was found during the conduct of this assessment. The presence of designated wetlands at the Site is considered to be a BER.
According to information contained in the EDR NEPACheck® report, as well as from the Federal Emergency Management Agency (FEMA) Flood Insurance Rate Map (FIRM) depicting the Site (Community Panel Number 12005C 0281H), portions of the southern part of the Site are located within Zone A (the 100-year annual flood zone; no base flood elevation determined). Location of the Site within the 100-year annual flood zone is considered to be a BER.
According to information in the Environmental Data Resources (EDR) database report, groundwater depth in the Site vicinity ranges from approximately 7 to 26 feet below ground surface (bgs). Based on surface topography, groundwater flow direction is anticipated to flow to the south to southwest (towards the Gulf of Mexico). There are, however, limitations to the use of topography as an indicator of groundwater flow direction. Topography is used here because no other readily available information was found during the conduct of this assessment.
2.1 Findings, Opinions, and Conclusions
Tetra Tech has performed a Phase I ESA in conformance with the Scope of Work required by 40 CFR §312, et al., of the property referenced as Record No. 101650317 at 17771-17789 Panama City Beach Parkway and 17690 Front Beach Road, Panama City Beach, Florida, 32413. Any exceptions to, or deletions from, the Scope of Work required by 40 CFR §312 are described in this report where applicable. This assessment has revealed evidence of onerecognized environmental conditions associated with the Site:
· Hydraulic fluid/gear oil has impacted an unpaved landscaped area and the staining/spillage is considered to be a REC to the Site.
TETRA TECH, INC. PROJECT NO. T24023.003 3 RECORD NO. 101650317 2.0 Executive Summary (continued) 2.1 Findings, Opinions, and Conclusions (continued)
Tetra Tech has reached the following additional conclusions:
· No HRECs or PECs have been found in connection with the Site.
· The presence of fluorescent light bulbs/tubes is considered to be a de minimis condition.
· Staining and apparent water damage/moisture intrusion observed in an office of the Site building is considered to be a BER.
· The presence of designated wetlands at the Site is considered to be a BER.
· Location of the Site within the 100-year annual flood zone is considered to be a BER.
· No open space, recreational, historical, cultural, or conservation concerns associated with adjacent properties were noted.
· No off-site facilities are considered to be RECs or PECs to the Site at this time.
2.2 Recommendations
Based on the information gathered during the performance of this assessment, Tetra Tech's understanding of current regulatory guidelines, and the judgment of Tetra Tech, the following recommendations are presented for consideration:
· Containers of hydraulic fluid and gear oil should be removed from the Site and disposed of in accordance with applicable regulations. Staining spillage on the concrete and adjacent unpaved landscaped area should be cleaned up and disposed of in accordance with applicable regulations.
· A subsurface investigation including sampling and analysis should be conducted to evaluate subsurface impacts at the Site from observed hydraulic fluid/gear oil staining/spillage.
· During removal or replacement of light fixtures, fluorescent light bulbs/tubes should be disposed of in accordance with applicable regulations.
· Staining on the office wall and observed moisture intrusion/water damage to the wall, acoustic ceiling tiles, and carpeting should be repaired or replaced in accordance with applicable regulations.
· A Site-specific biological/ecological survey is recommended to delineate the on-Site wetlands. Additionally, prior to any development of any portion of the Site in the future, Site property owners and developers should contact the United States Army Corps of Engineers (USACE), the FDEP, and the Northwest Florida Water Management District (NWFWMD) to discuss specifically what is required by the agencies with respect to the on-Site wetlands and property development.
· Prior to any other development of any portion of the Site in the future, Site property owners and developers should contact the Panama City Beach Building and Planning Department (PCBBPD) and Bay County Planning and Zoning Department (BCPZD) regarding development/building within a flood zone.
TETRA TECH, INC. PROJECT NO. T24023.003 4 RECORD NO. 101650317 3.0 Introduction 3.1 Purpose
The primary purpose of this assessment was to identify recognized environmental conditions (RECs) in connection with the Site. American Society for Testing and Materials (ASTM) defines RECs as the presence or likely presence of hazardous substances or petroleum products on a property under conditions that indicate an existing release, a past release, or material threat of a release into structures on the property or into the ground, groundwater, or surface water of the property.
3.2 Scope of Work
This assessment was conducted by Tetra Tech in general accordance with the scope and limitations set forth in the American Society for Testing and Materials (ASTM) Standard Practice E 1527-05 document entitled, "Standard Practice for Environmental Assessments: Phase I Environmental Site Assessment Process" and the Federal Deposit Insurance Corporation (FDIC) Scope of Work for Phase I ESAs dated February 2006.
The assessment included a visual reconnaissance of the Site, visual inspection of the surrounding properties from curbside, review of historical ownership and use, visual asbestos and lead-based paint surveys, review of regulatory listings, and interviews with persons knowledgeable about the Site. The following provides a more detailed description of the scope of services:
• Visual inspection of the Site buildings and grounds to identify potential for on-Site oil or hazardous material release(s).
• Visual inspection of the Site to evaluate the likelihood that polychlorinated biphenyls (PCBs) are present (i.e., transformers).
• Visual inspection and categorization of the use of abutting and adjacent properties as off-Site potential environmental concerns (PECs).
• Review of local records related to historical ownership, usage and Site development. This also included interviewing local environmental authorities to obtain information regarding complaints, violations, citations, or inspections related to the Site.
• Review of published Federal regulatory records related to on-Site activities and to potential off-Site sources of oil or hazardous material impacts. Federal records reviewed include those in accordance with ASTM Standard Practice E1527-05.
• Review of readily available State regulatory records and publications for environmental activities related to the Site and potential off-Site sources of oil or hazardous material impacts. State records reviewed include those in accordance with ASTM Standard Practice E1527-05.
• Review of proprietary records maintained by Environmental Data Resources, Inc. (EDR).
• Review of readily available historic Site documents to assess for potential on-Site sources of oil or hazardous material impacts.
• Review of readily available aerial photos for the Site and Site vicinity to evaluate present and historical development/facilities.
• Review of readily available plans and documents relative to construction materials utilized at the Site and any historical renovation activities.
• A limited visual survey of the Site for the presence of suspect asbestos-containing materials (ACMs) asbestos-containing materials (ACMs), lead-based paint (LBP), and obvious mold/microbial growth/moisture accumulation or water damage. Tetra Tech's limited visual inspection for suspect ACMs, suspect LBP, and obvious mold conditions and contributing water damage included observations in readily and physically accessible areas.
• Preparation of a Phase I Environmental Site Assessment Report.
TETRA TECH, INC. PROJECT NO. T24023.003 5 RECORD NO. 101650317 3.0 Introduction (continued) 3.3 Significant Assumptions
Information provided by others to Tetra Tech is assumed to be accurate and complete. Where provided, Tetra Tech has made reasonable inquiry into the accuracy of such information. Unless such inquiry indicated otherwise, the information was considered to be accurate and complete. As discussed below in Section 3.4, there are limitations to this assumption.
There were no other significant assumptions made during the conduct of this Phase I ESA.
3.4 Limitations and Exceptions
Tetra Tech did not significantly delete or deviate from the scope and limitations set forth in the American Society for Testing and Materials (ASTM) Standard Practice E 1527-05 document entitled, "Standard Practice for Environmental Assessments: Phase I Environmental Site Assessment Process," except for:
• A limited visual survey of the Site for the presence of suspect ACMs, LBP, and obvious mold/microbial growth/moisture accumulation or water damage. Tetra Tech's limited visual inspection for suspect ACM, suspect LBP, and obvious mold conditions and contributing water damage included observations in readily and physically accessible areas.
• Review of readily accessible information regarding radon and wetlands.
The following limitation is noted:
• Unable to interview owner of Site.
• In accordance with the scope of work for this assessment, a chain-of-title report was obtained for only one of the nine Site parcels and is considered to be representative of all Site parcels.
• In accordance with the scope of work for this assessment, a search for environmental liens and activity and use limitations (AULs) was conducted for only one of the nine Site parcels and is considered to be representative of all Site parcels. This is referred to as the 10% rule when searching for environmental liens and activity and AULs on a property with multiple parcels.
• Some parts of the Site were covered with dense vegetation/wooded areas and only able to be viewed from the edges of the dense vegetation.
Our professional services have been performed, our findings obtained, and our recommendations prepared in accordance with customary principles and practices in the fields of environmental science and engineering. This warranty is in lieu of all other warranties either expressed or implied. Tetra Tech is not responsible for the independent conclusions, opinions or recommendations made by others based on the records review, site inspection, field exploration, and laboratory test data presented in this report.
It should be noted that all surficial environmental assessments are inherently limited in the sense that conclusions are drawn and recommendations developed from information obtained from limited research and site evaluation. Subsurface conditions were not field investigated as part of this study and may differ from the conditions implied by the surficial observations. Additionally, the passage of time may result in a change in the environmental characteristics at this site and surrounding properties. This report does not warrant against future operations or conditions, nor does this warrant operations or conditions present of a type or at a location not investigated. This report is not a regulatory compliance audit.
This study is not intended to assess if any soil contamination, waste emplacement, or groundwater contamination exists by subsurface sampling through the completion of soil borings and the installation of monitoring wells. The Scope of Work, determined by the client, did not include these activities.
Tetra Tech reviewed past ownership of the Site in an attempt to determine past site usage. Tetra Tech is not a professional title insurance firm and makes no guarantee, explicit or implied, that the listing which was reviewed represented a comprehensive delineation of past site ownership or tenancy for legal purposes.
TETRA TECH, INC. PROJECT NO. T24023.003 6 RECORD NO. 101650317 3.0 Introduction (continued) 3.4 Limitations and Exceptions (continued)
Certain information contained in this report may have been rightfully provided to Tetra Tech by third parties or other outside sources. Where provided, Tetra Tech has made reasonable inquiry into the accuracy of such information. However, Tetra Tech does not make any warranties or representations, whether expressed or implied, regarding the accuracy of such information, and shall not be held accountable or responsible in the event that any such inaccuracies are present.
3.5 Deviations
There were no significant deviations from the Scope of Work.
3.6 Special Terms and Conditions
There were no special terms or conditions associated with this Phase I ESA.
3.7 Reliance
Tetra Tech understands that this ESA is being requested in conjunction with due diligence activities for the Site by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165. Tetra Tech recognizes that this report is to be used exclusively by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165. It is a report upon which the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165 can rely.
3.8 Data Gaps
During the conduct of this assessment, there were no data gaps or data failure considered to be significant. Information provided by others to Tetra Tech is assumed to be accurate and complete. Where provided, Tetra Tech has made reasonable inquiry into the accuracy of such information. Unless such inquiry indicated otherwise, the information was considered to be accurate and complete. As discussed previously in Section 3.4, there are limitations to this assumption.
TETRA TECH, INC. PROJECT NO. T24023.003 7 RECORD NO. 101650317 4.0 Site Description 4.1 Location and Legal Description
The Site is generally located between Panama City Beach Parkway to the north and Front Beach Road to the south, with the northwest corner of the Site located approximately 100 feet southeast of the intersection of Panama City Beach Parkway and Ashley Drive, in Panama City Beach, Florida. The Site is located on approximately 21.8 acres of land. According to information on file at the Bay County Property Assessor's office and provided to Tetra Tech by CBRE, the Site is comprised of nine parcels that are identified as Assessor's Parcel Numbers 38322-00-000, 38322-005-000, 38322-005-010, 38322-006-000, 38322-007-000, 38322-008-000, 38322-050-000, 38323-000-000, and 38461-000-000 and are reported to be owned by Peoples First Community Bank. According to information from the Bay County Property Appraiser records, the Site has a zoning designation of planned unit development (PUD). Site addresses include: 17771, 17773, 17775, 17785, 17787, and 17789 Panama City Beach Parkway and 17690 Front Beach Road.
Refer to the Bay County Property Appraiser information the Regulatory Records appendix for legal descriptions of the Site parcels.
The location of the Site is depicted on the Laguna Beach, Florida, Topographic Quadrangle. The topography in the vicinity of the Site slopes down very gently towards the south-southwest. Please refer to Figure No. 1 - Site Location Map.
4.2 Site and Vicinity Description
The vicinity of the Site can generally be described as a mixed commercial, residential, and undeveloped area of Panama City Beach, Florida. The Site is currently improved with an unoccupied commercial/office building.
4.3 Current Use of Property
The Site was unoccupied at the time of the Site visit. A sign on the Site building indicated it was previously occupied by Ibis Lake Preview Center.
4.4 Description of Structures, Roads, and Other Improvements
The Site is currently developed with an approximate 7,300 square-foot unoccupied commercial/office building constructed in 1990. A fenced exterior storage area is located east of the Site building. The Site building is of modular metal construction with a concrete foundation and metal roof. Observed interior finishes included acoustic ceiling tiles, drywall, carpeting, and baseboard. Possible construction debris was observed adjacent and east of the Site building and included bricks, pavers, and temporary fencing. Other than the Site building, the remainder of the Site is improved with asphalt-paved parking, landscaping, and concrete walkways. A small man-made lake is located on the northwestern part of the Site. Except for the building and man-made lake, much of the northern part of the Site is graded land. Most of the south part of the Site is heavily wooded. Some asphalt-paved streets were observed on the northern part of the Site (apparently associated with the previous planned development of the Site). No areas of stressed vegetation were observed at the Site.
Utilities active at the Site included:
Water: City of Panama City Beach. Some off-Site private water wells are also located in the Site vicinity. Sewer: City of Panama City Beach. Natural Gas: TECO Peoples Gas. Electricity: Gulf Power Company.
4.5 Adjoining Property Information
The vicinity of the Site can generally be described as a mixed commercial, residential, and undeveloped area in Panama City Beach. Adjoining properties observed during the Site vicinity reconnaissance are described below.
North: an office building, undeveloped land, and commercial businesses (Ace Hardware, Home Helpers, South Bay Lumber, and Bella Cabinetry) beyond Panama City Beach Parkway.
TETRA TECH, INC. PROJECT NO. T24023.003 8 RECORD NO. 101650317 4.0 Site Description (continued) 4.5 Adjoining Property Information (continued)
South: Splash Resort and residential properties beyond Front Beach Road.
East: residential properties and a motel.
West: Splash Resort, a motel, and residential properties.
A proposed residential development divides the approximate northern and southern parts of the Site. The proposed residential development includes residential lots, street/roadways, and master property/homeowner property (common areas, trails, swimming pool and associated bath house, mail kiosk, open areas, and wetland areas).
Historical uses of adjoining properties are described in Section 6.4.1. Based on information contained in the database report, additional information available from regulatory agencies, presumed groundwater flow direction, and/or regulatory agency status, the off-Site facilities listed in the EDR database report are not considered to be RECs or PECs to the Site at this time.
TETRA TECH, INC. PROJECT NO. T24023.003 9 RECORD NO. 101650317 5.0 User Provided Information 5.1 Actual or Specialized Knowledge
No actual or specialized knowledge or experience with respect to the Site was provided to Tetra Tech during this Phase I ESA by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165.
5.2 Commonly Known or Reasonably Ascertainable Information
With the exception of the Site location, no commonly known or reasonably ascertainable information for the Site was provided to Tetra Tech during this Phase I ESA by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165.
5.3 Valuation Reduction for Environmental Issues
No information indicative of a valuation reduction for environmental issues with respect to the Site was provided to Tetra Tech during this Phase I ESA by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165.
5.4 Owner, Property Manager, and Occupant Information
No information regarding the Site owner, property manager, or occupant was provided to Tetra Tech during this Phase I ESA by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165.
5.5 Land Title and Judicial Records for Environmental Liens or Activity and Use Limitations (AULS)
No information regarding environmental liens or AULs was provided to Tetra Tech during this Phase I ESA by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165.
5.6 Reason For Performing Phase I ESA
Tetra Tech understands that this Phase I ESA has been requested as part of the due diligence activities being conducted for the Site.
TETRA TECH, INC. PROJECT NO. T24023.003 10 RECORD NO. 101650317 6.0 Records Review 6.1 Environmental Database Records Search
Information from standard Federal and State environmental record sources was provided through EDR. Data from governmental agency lists are updated and integrated into one database, which is updated as these data are released. This integrated database also contains postal service data in order to enhance address matching. Records from one government source are compared to records from another to clarify any address ambiguities. The demographic and geographic information available provides assistance in identifying and managing risk. The accuracy of the geocoded locations is approximately +/-300 feet.
In some cases, location information supplied by the regulatory agencies is insufficient to allow the database companies to geocoded facility locations. These facilities are listed under the unmappables section within the EDR database report. A review of the unmappable facilities indicated that none of these facilities are within the ASTM minimum search distance from the Site.
Included in the EDR database report is an orphan summary. This summary lists facilities that are contained on one of the above-referenced databases or lists, but for which complete or accurate geographic data was not available. Consequently, EDR was unable to map the facilities in relation to the Site. This list was reviewed during Site reconnaissance to evaluate whether the properties referenced are within ASTM search distances. Properties within ASTM distances were incorporated into Tetra Tech's review.
Map Findings Summary
Database Target Search < 1/8 1/8 - 1/4 1/4 - 1/2 1/2 - 1 > 1 Total Property Distance Plotted (Miles) NPL 1 0 0 0 0 NR 0 DELISTED NPL 1 0 0 0 0 NR 0 CERCLIS 0.5 0 0 0 NR NR 0 CERCLIS-NFRAP 0.5 0 0 0 NR NR 0 CORRACTS 1 0 0 0 0 NR 0 RCRA-TSDF 0.5 0 0 0 NR NR 0 RCRA-LQG 0.25 0 0 NR NR NR 0 RCRA-SQG 0.25 0 0 NR NR NR 0 RCRA-CESQG 0.25 0 0 NR NR NR 0 US ENG CONTROLS 0.5 0 0 0 NR NR 0 US INST CONTROL 0.5 0 0 0 NR NR 0 ERNS TP NR NR NR NR NR 0 US BROWNFIELDS 0.5 0 0 0 NR NR 0 SHWS 1 0 0 0 0 NR 0 SWF/LF 0.5 0 0 0 NR NR 0 LUST 0.5 0 0 0 NR NR 0 UST 0.25 0 0 NR NR NR 0 AST 0.25 0 2 NR NR NR 2 SPILLS TP NR NR NR NR NR 0 ENG CONTROLS 0.5 0 0 0 NR NR 0 Inst Control 0.5 0 0 0 NR NR 0 VCP 0.5 0 0 0 NR NR 0 DRYCLEANERS 0.25 0 0 NR NR NR 0 BROWNFIELDS 0.5 0 0 0 NR NR 0 PRIORITYCLEANERS 0.5 0 0 0 NR NR 0 DEDB 0.5 0 0 0 NR NR 0 FL Cattle Dip. Vats 0.5 0 0 0 NR NR 0 INDIAN LUST 0.5 0 0 0 NR NR 0 INDIAN UST 0.25 0 0 NR NR NR 0 INDIAN VCP 0.5 0 0 0 NR NR 0 INDIAN ODI 0.5 0 0 0 NR NR 0 INDIAN RESERV 1 0 0 0 0 NR 0
6.1.1 Federal Regulatory Records
TETRA TECH, INC. PROJECT NO. T24023.003 11 RECORD NO. 101650317 6.0 Records Review (continued) 6.1 Environmental Database Records Search (continued) 6.1 Text after Table (continued)
The Site was listed in one non-ASTM Federal regulatory agency database reviewed for this Phase I ESA: USEPA FINDS database. The listing pertained to the Florida Environmental System Today Application (FIESTA) Data Maintenance System database maintained by the Florida Department of Environmental Protection (FDEP). The limited information available on the USEPA and FDEP publicly accessible databases indicates the listing may have pertained to registering with the agency for potential wastewater/storm water discharges associated with Site grading activities. This is not considered to be an environmental concern to the Site.
No off-Site properties located within ASTM search distances were reported by EDR to be listed on the Federal regulatory agency databases in the table in Section 6.1.
6.1.2 State and EDR Proprietary Regulatory Records
Neither the Site nor any off-Site properties located within ASTM search distances were reported by EDR to be listed on the SHWS, SWF/FL, LUST, UST, SPILLS, ENG CONTROLS, INST CONTROL, VCP, BROWNFIELDS, PRIORITY CLEANERS, DEDB, FL Cattle Dip Vats, INDIAN LUST, INDIAN UST, INDIAN VCP, INDIAN ODI, and INDIAN RESERVE databases in the table in Section 6.1. The Site was not listed in the remaining State regulatory database in the table in Section 6.1: AST. Two AST facilities were listed and are not located adjacent to the Site. Based on information contained in the EDR database report, distance from the Site, presumed groundwater flow direction, and/or regulatory agency status, the listed off-Site facilities are not considered to be RECs or PECs to the Site.
6.2 Additional Environmental Record Sources
It should be noted that the Bay County Property Appraiser website shows parcel 38322-000-000 with a street address of 17469 Panama City Beach Parkway. However, based on Site vicinity reconnaissance and review of website information, this address number would be expected to be associated with property in the vicinity of 0.25 miles east of the Site. Tetra Tech contacted the Bay County Property Appraiser and Panama City Beach Building and Planning Department regarding this apparent discrepancy. Agency personnel agreed it appeared inaccurate but did not know why it is showing up as such in the database. Additionally, the visual representation and configuration of the southern part of the Site on the Bay County Property Appraiser website is inaccurate. Tetra Tech discussed this with Bay County Property Appraiser and Panama City Beach Building and Planning Department personnel and was provided a conceptual development plan drawing that showed the Site except for parcel 38322-000-000, which agency personnel stated was part of the Site.
Florida Department of Environmental Protection (FDEP) Tetra Tech reviewed publicly available databases maintained by the FDEP (solid waste, storage tanks, hazardous waste, and waste cleanup) under the OCULUS document warehouse system and Water Data Central mapping system. No records were found for the Site.
As discussed previously, the Site was listed in the EDR database report in the non-ASTM FINDS database. The listing pertained to the FIESTA Data Maintenance System database maintained by the FDEP. The limited information available on the USEPA and FDEP publicly accessible databases indicates the listing may have pertained to registering with the agency for potential wastewater/storm water discharges associated with Site grading activities. This is not considered to be an environmental concern to the Site.
Northwest Florida Water Management District (NWFWMD) Tetra Tech requested records regarding wells from the NWFWMD. No wells were found for the Site or properties adjacent to the Site.
Panama City Beach Building and Planning Department (PCBBPD) Tetra Tech requested records for the Site maintained by the PCBBPD. No permit records were found for the Site. Information on the Bay County Property Appraiser website noted the Site building was constructed in 1990.
Panama City Beach Fire and Rescue Department (PCBFRD) Tetra Tech requested records for the Site maintained by the PCBFRD. No records were found for the Site.
TETRA TECH, INC. PROJECT NO. T24023.003 12 RECORD NO. 101650317 6.0 Records Review (continued) 6.2 Additional Environmental Record Sources (continued)
Panama City Beach Police Department (PCBPD) Tetra Tech requested records for the Site maintained by the PCBPD. No records were found for the Site.
6.3 Physical Setting Sources
The Site is generally located between Panama City Beach Parkway to the north and Front Beach Road to the south, with the northwest corner of the Site located approximately 100 feet southeast of the intersection of Panama City Beach Parkway and Ashley Drive, in Panama City Beach, Florida.
6.3.1 Surface Water Bodies
A small man-made lake is located on the northwestern part of the Site. During the Site reconnaissance, no other surface water bodies were observed on-Site.
6.3.2 Geology and Hydrogeology
The Site area is located in the Choctawhatchee- St. Andrew Basin (Florida Department of Environmental Protection, Division of Environmental Assessment and Restoration). The Choctawhatchee-St. Andrew Basin covers about 3,260 square miles in the Florida Panhandle, including the Pea River, Choctawhatchee River, Choctawhatchee Bay, and St. Andrew Bay watersheds. It is situated in Holmes, Washington, Walton, and Bay Counties, with small portions in Jackson, Calhoun, Gulf, and Okaloosa Counties. The Choctawhatchee-St. Andrew Basin is made up of two distinct watersheds: Choctawhatchee River and Bay, and St. Andrew Bay. There are two major aquifer systems in the Choctawhatchee-St. Andrew Basin: the surficial aquifer system (SAS) and the Floridan aquifer system (FAS). The SAS is an unconfined aquifer composed of discontinuous mixtures of sand, limestone, and shell beds. In this area, the SAS is shallow (20 to 60 feet below ground surface [bgs]). The FAS is a confined aquifer buried by as much as 1,100 feet of confining beds and other aquifer systems.
6.3.3 Soils
According to information from the United States Department of Agriculture Natural Resources Conservation Services Web Soil Survey database, soils in the Site vicinity are comprised of Resota fine sand, Kureb sand, and Pamlico-Dorovan complex (muck, sand).
6.3.4 Hydrology
According to information in the EDR database report, groundwater depth in the Site vicinity ranges from approximately 7 to 26 feet bgs. Based on surface topography, groundwater flow direction is anticipated to flow to the south to southwest (towards the Gulf of Mexico). There are, however, limitations to the use of topography as an indicator of groundwater flow direction. Topography is used here because no other readily available information was found during the conduct of this assessment.
6.4 Historical Use 6.4.1 Historical Summary
Prior uses of the Site and surrounding properties were obtained from review of agency records and review of historical information obtained from EDR aerial photographs and topographic maps. No Sanborn fire insurance maps showing the Site and surrounding properties were found. No city directory listing coverage was available for the Site. No historical information prior to 1943 was found for the Site. The table below summarizes historical information obtained from EDR (provided in the Historical Research Appendix), as well as a 2007 aerial photograph reviewed on the Google Earth website. Information from other historical sources (agency records) is included in the summary paragraph below.
According to historical records reviewed, the Site was undeveloped or vacant land from at least 1943 until the existing building was constructed in 1990. A second Site building formerly located adjacent and west of the existing building appears to have been of constructed around the same time as the existing building but had been removed/demolished by
TETRA TECH, INC. PROJECT NO. T24023.003 13 RECORD NO. 101650317 6.0 Records Review (continued) 6.4 Historical Use (continued) 6.4.1 Historical Summary (continued) at least 2007. No historical Site tenants except for Ibis Lake Preview Center (signage observed during the Site reconnaissance) were found during the conduct of this assessment.
Historical Uses of Site and Surrounding Properties Decade Site Surrounding Properties Sources Starting 1940 Undeveloped primarily wooded Undeveloped primarily wooded T (1943) land. A portion of the Site, land, with some swamp or marsh primarily the southern portion, is lands. depicted as being swamp or marsh lands. 1950 No significant changes noted. The Primarily undeveloped land with a A (1953) northern part of the Site is much few residential appearing less wooded than the southern part structures to the east and south. of the Site. 1960 No significant changes noted No significant changes noted A (1964) except the northern part of the Site although some increase in appears to have been mostly developed properties (residential cleared of vegetation. appearing) was evident to the south. 1970 No significant changes noted No significant changes noted A (1974), T (1978) although vegetation appeared to be although some increase in growing back on the northern part developed properties (hotel/motel of the Site. appearing) was evident to the west and east of the southern part of the Site. 1980 No significant changes noted. N: Primarily undeveloped land. T (1982), A (1986) A commercial appearing building was visible on the 1986 aerial photograph. E: No significant changes noted in 1982. Primarily residential (existing) in 1986. S: Residential appearing (similar to the present). W: No significant changes noted. 1990 The existing building, a similar No significant changes noted. A (1997) building adjacent and to the west of it, and the existing man-made lake were visible on the northern part of the Site. 2000 The Site appeared similar to the The surrounding properties A (2007) present. appeared similar to the present. Notes: Notes: N = north. A = aerial photograph (year E = east. in parentheses). S = south. T = topographic map (year W = west. in parentheses).
6.4.2 Title Records
According to information from the chain-of-title report obtained from EDR, a representative Site parcel has been owned by:
TETRA TECH, INC. PROJECT NO. T24023.003 14 RECORD NO. 101650317 6.0 Records Review (continued) 6.4 Historical Use (continued) 6.4.2 Title Records (continued)
Prior Ownership and Usage Year Seller Purchaser Comments 1943 W H Laird and Dorothy A C C McKee None Laird (owners since at least 1940) 1945 C C McKee Elizabeth Jean Holloway None 1956 Elizabeth Jean Holloway George W Thompson, Sr. None 1972 Estate of George W Gulf Beach Resorts Inc None Thompson, Sr. 1973 Gulf Beach Resorts Inc Small Business Assistance None Corp 1973 Gulf Beach Resorts, Inc. Olin L Wilson None 1973 Gulf Beach Resorts Inc. James Coles Bannerman and None Gloria Wells Bannerman