There are many types of properties that require environmental due diligence that are not traditionally commercial in nature. The types of investigations performed varies for different types of properties, different client specifications and different requirements of partners and financing organizations.
Affordable housing typically involves a developer who is either building or rehabilitating housing that will be offered at lower prices than alternative housing options. This can be an important resource in areas where some of the population can’t afford standard-priced housing.
This housing is frequently funded through federal and state agencies, like the HOME program. In some cases direct funding is available, and funding can also be provided through Low Income Housing Credits, which provide tax credits for amounts invested. Individual states have similar and related low income housing agencies, such as the North Carolina Housing Finance Agency, South Carolina State Housing Finance & Development Authority and the Virginia Housing Development Authority. Also the USDA Rural Development has programs for grants and other sources of development and housing assistance.
Conservation tracts that agencies, conservation funds and conservancies intend to acquire follow similar types of due diligence. These groups tend to have specific guidelines that are needed for environmental due diligence. Invasive species, wetlands and drainage, and investigations regarding past uses such as logging, orchards and crops are important to note. These tracts are frequently acquired to augment and protect larger preserved areas, such as National and State parks, conservation areas and other areas of regional or national importance.
