Drilling a groundwater monitoring well.
State Reimbursement for Your Cleanup
The DEQ via the Virginia Petroleum Storage Tank Fund (VPSTF) helps defray some of the costs of investigation and cleanup. Depending on the site owner/operator's throughput throughout Virginia, the fund reimburses approved costs incurred in excess of $5,000 for more than 600,000 gallon/year sites (most mom & pops) up to costs in excess of $50,000 for less than 2.4 million gallon/year sites. The $5000 to $50,000 is the owner/operator's financial liability or "deductible."
With most environmental firms, the usual procedure is to do the work, send you the bill for you to pay, file the reimbursement on your behalf ECI, and then you wait for reimbursement, which may take 9-12 months.
But, to serve you better, ECI offers a program whereby, once your DEQ deductible is met, ECI funds your cleanup for you and seeks payment from the DEQ on your behalf.
That means that you may never have to carry cleanup costs on your books again! This typically entails nothing more than your periodically signing and notarizing some DEQ forms, which is better than writing checks. All of our clients with DEQ cases have taken advantage of this. CALL ECI TODAY to find out how you can, too!
Deductibility for AST work and heating oil releases is based on a different formula and may be as low as $500 per occurrence!
