BUSTR’s Interest-Free Loan Deadline Application Ends December 31
On September 1, 2014, the Ohio Department of Commerce’s Division of State Fire Marshal Bureau of Underground Storage Tank Regulations (BUSTR) announced they are accepting applications for the 2015 Underground Storage Tank (UST) Revolving Loan Fund Program (RLF).
This program intends to provide loan funding for political subdivisions to conduct UST closures, assessments, and cleanups of abandoned USTs, in accordance with Chapter 1301:7-9-20 of the Ohio Administrative Code (OAC). The total amount available statewide to be loaned for in 2015 is $3,000,000.
Any political subdivision is eligible to apply for and receive a loan from the UST Revolving Loan Fund program under the following conditions:
1. For sites with out-of-service USTs that need to be removed, the political subdivision must own the project property but not have operated those USTs.
2. For sites with previously existing releases, the political subdivision need not own the property; however, the political subdivision cannot be the responsible person for the release and the State Fire Marshal must have determined that there are no known, viable responsible persons.
In submitting the UST RLF application, the applicant must agree to the following:
Applications must be post marked no later than December 31, 2014. Applications post marked after December 31, 2014 will not be considered for a 2015 UST Revolving Loan.
The loans are interest free. A political subdivision receiving a loan must contribute at least 5% of the total cost of the project.
The repayment schedule may not exceed 10 years.
For more information, please contact Tim Brown (614) 794-3570, extension 29.