Environmental Enlightenment #115
By Ami Adini - Reissued October 14, 2010
is a SHORT, LIGHT and SIMPLE newsletter. Its purpose is to rekindle in
the initiated terminology they have once learned, and enlighten the uninitiated on terms they may have heard but never known the meaning of.
The California Underground Storage Tank Cleanup Fund
Cleanup Fund assists owners of leaking petroleum underground storage
tanks to pay for the cost of regulatory-mandated corrective action and
for third party damages. There’s up to $1,500,000 allocated to cover
1992, and true to August 31, 2010, there has been a total of $2.727 billion paid against 11,069
claims. This translates to an average of $246,000 per claim over this
at current day costs and size of projects, one can assume that recent
averages could run in the $500,000 per occurrence.
owners and/or operators of leaking petroleum tanks can qualify. This is
a broad statement to which there are exceptions. Detailed eligibility
criteria are listed in the literature available by the Fund.
real estate transactions bog down because of concerns about leaking
underground petroleum tanks. It shouldn’t be so. The financial backup of
the Fund is a factor that can assist to carry these transactions
through. It’s not a cure-all panacea, but in certain instances it can
save the day.
For more information search at the Fund web site
or contact me. I’ll be happy to help.
You can find past issues of our "Environmental Enlightenment" at www.amiadini.com:
Wealth of information about environmental site assessments in the real
estate transactions and issues concerning assessment and cleanup of
contamination in the subsurface soil and groundwater.
Call me if you have any questions. There are no obligations.
Ami Adini & Associates, Inc.
Underground Storage Tank Experts
Tel: (818) 824-8102 Fax: (818) 824-8112
Ami Adini is a mechanical engineer,
California Registered Environmental Assessor, Level II, and president of
AMI ADINI & ASSOCIATES, INC. (AA&A), an environmental
consulting firm specializing in all phases of environmental site
assessments, rehabilitation of contaminated sites and upgrading of
underground storage tank facilities. AA&A supplies practical solutions to
environmental concerns using the highest standards of ethics and
integrity while providing its clients with maximum return on their