If you are exploring the idea of using a New Jersey oil tank removal service, it means you’re probably facing an unexpected expense you don’t want to face. It also probably means you have no choice but to address the problem, especially if you’re trying to sell your property. Even if you have no intention of selling and are simply being forced to clean up an old oil tank for other reasons – local ordinances, you are facing fines or other issues – that expense can be a back breaker.
Thankfully, there are grants offered by the State of New Jersey that can assist with the expense.
Via the New Jersey Underground Storage Tank fund program, property owners can get grants to assist homeowners with oil tank remediation. Property owners can’t apply for these grants on their own; they must enlist the services of their chosen New Jersey oil tank removal company to help prepare their application. These firms will assist in getting you all the New Jersey grant money you may be entitled to, given the UST Fund availability. This may take a period of time for sufficient funds to become available, but in the long term the wait will be worth it.
Applying for these grants can be especially important if you are in the market to sell your property. Leaving an old oil tank in the ground is serious business when entering into a real estate deal. It can be a make or break for getting a transaction finalized. For many prospective buyers, the existence of an underground oil tank on a property can throw up red flags. People do not want to invest in a property that they think might have hidden costs, and because many people are under the impression that New Jersey oil tank removal is a costly process, potential buyers may balk.
Thankfully, the application process is simple, especially when your chosen firm is helping you along. Assuming your firm is a New Jersey Department of Environmental Protection certified vendor and that you have a Free Tank Closure Report, both of which are requirements for these grants, you are good to go. Your firm will prepare the application for you, excluding any confidential information. Once completed, you will send your complete package, including your confidential information, to the State for processing.
Keep in mind that the Underground Storage Tank Fund is subject to NJ State review, approval and financial qualifications, and that sufficient money must be available in the fund in order to provide your grant. That can take time. The Department of Environmental Protection is continuing to accept new applications and hold them until sufficient funds become available, but at times there can be a lengthy wait.
The good news is, the fund continues to work. Since Governor Whitman signed the law establishing the Petroleum Underground Storage Tank Remediation, Upgrade and Closure Fund (UST Fund) in 1997, thousands have received financial help when faced with the cost of remediating spills and removing underground tanks.
So don’t sit back and shoulder all the costs on your own. Ask your local New Jersey oil tank removal company about helping you get a grant. You’ll save thousands.