Environmental Enlightenment #115

By Ami Adini - Reissued October 14, 2010


This 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

The 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 each occurrence,

Since 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 period.

Looking at current day costs and size of projects, one can assume that recent averages could run in the $500,000 per occurrence.

Most 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.

Many 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
http://www.swrcb.ca.gov/water_issues/programs/ustcf/
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
Ami Adini & Associates, Inc.
Environmental Consultants
Underground Storage Tank Experts
Tel: (818) 824-8102 Fax: (818) 824-8112
mail@amiadini.com
www.amiadini.com

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 investments.