GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Environmental Impact Statement


Synonyms:consequences, effects, environmental impact assessment, outcome, results
Acronyms &
abbreviations:
EIS
Filed Under: financial-banking, legal-contracts, real-estate
Tags: construction, legal, property listing, realty
 

Definition of environmental impact statement (EIS)

environmental impact statement (EIS)
1. A mandatory (required by government) evaluation or assessment that must be conducted prior to construction. The assessment details the possible effects that the development could have on the environment surrounding the site. Also known as an "environmental impact assessment."

Related Terms and Acronyms:

  • appraisal   An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
  • construction loan   A short-term interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses.
  • controlled growth   A set of restrictions set by local government that governs the amount, type and density of new construction.
  • draft supplemental environmental impact statement (DSEIS)
  • environmental impact statement/environmental impact report (EIS/EIR)
  • final generic environmental impact statement (FGEIS)
  • home inspection   A thorough examination of a house's visible structural parts and systems, conducted before purchase.
  • supplemental environmental impact statement (SEIS)

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