Borough of Peapack-Gladstone

 

Petroleum Underground Storage Tank Remediation, Upgrade & Closure Fund (UST Fund)
 

The Underground Storage Tank Remediation, Upgrade & Closure Fund (UST Fund) is a grant and loan program administered jointly by the New Jersey Department of Environmental Protection (NJDEP) and the New Jersey Economic Development Authority (NJEDA).  The UST Fund provides financial assistance for both leaking and non-leaking underground storage tanks.  The non-leaking component of the UST Fund is administered by the NJEDA.  Information about this program is available on NJEDA's web-site at http://www.njeda.com, or by contacting their Customer Care Representative at (609) 777-4898.  The leaking tank component of the UST Fund is co-administered by the NJDEP and the NJEDA.  Information about this program is available on NJDEP's web-site at http://www.nj.gov.dep/srp/finance/ustfund, or by calling (609) 777-0101.

NON-LEAKING TANKS

The non-leaking tank program provides grants for reimbursement for removal and replacement of unregulated home heating oil tanks.  The amount reimbursed for tank removal is capped at $1,200.00.  The amount reimbursed for tank replacement is $1,800.00, and the replacement tank must be an Above Ground Tank (AST), to the maximum extent feasible, to qualify for tank replacement funding.

LEAKING TANKS

Financial assistance for eligible applicants that have leaking underground storage tanks includes grants and low interest loans for the reasonable costs associated with the remediation of the discharge that occurred from the leaking tank.  Loans are capped at $2,000,000.00 and grants are capped at $500,000.00, with the exception of properties located within certain state designated planning areas.

ELIGIBILITY

The UST Fund is open to both regulated and non-regulated underground storage tank owners and operators.  Eligible applicants include homeowners, corporations, non-profit groups, voluntary fire, ambulance, first aid, emergency, rescue companies or squads, independent institutions of higher education, and public entities.  Different eligibility requirements apply to the different categories of applicants.

In order to be considered for a grant from both the non-leaking and leaking programs an applicant must have a net income of less than $250,000.00, and a new worth of less than $500,000.00, excluding the applicant's primary residence and employer sponsored pension.  Being below these threshold amounts does not guarantee an applicant a grant, but does get the applicant evaluated for a grant.  Whether the applicant receives the offer of a grant, a loan or a combination of the two, is determined by each individual applicant's financial situation.

IMPORTANT FACTS

  • Applicants performing remediation of a leaking UST at their primary residence can perform the work and submit an application to the UST Fund afterwards.  If the remediation is being performed at a secondary property, the applicant must be submitted, and received by the NJDEP, prior to work commencement.

  • Applicants must enter into a Memorandum of Agreement (MOA) with the NJDEP.  The MOA is an agreement to pay NJDEP Case Manager oversight costs, costs that are not covered by the UST Fund.  Applicants must also pay an application fee to the NJEDA; $250.00 for homeowners and $500.00 for regulated tank applicants.

  • Applicants must use a NJDEP certified contractor when performing UST related removal and remediation work.  A list of certified contractors can be found at http://www.nj.gov/dep/srp/index.htm.

  • Applicants must make claims against their homeowner's insurance policy, and/or, tank service agreements prior to making application to the UST Fund.  The UST Fund, by law, is the funding sources of last resort for such remedial costs.

QUESTIONS:

NON-LEAKING TANK PROGRAM-NJEDA-(609)777-4898

LEAKING TANK PROGRAM-NJDEP-(609)777-0101