Underground Storage Tank (UST) Cleanup Fund Support
Many of our clients require government funding to address the impacts at their sites, including the State of California’s Underground Storage Tank Cleanup Fund (USTCF), Site Cleanup Subaccount Program (SCAP), Replacing, Removing, or Upgrading Underground Storage Tanks Fund (RUST), and the Orphan Site Cleanup Subaccount (OSCA) grant program. Stratus currently manages more than 100 projects (including multi-facility and regional retail fuel marketers, and independent fuel retailers) that participate in the California USTCF. Stratus brings years of experience of successfully submitting State Cleanup Fund eligibility applications.
The ability to get sites successfully approved into the USTCF and/or RUST funds can significantly affect a company’s ability to pay for these cleanups and reduce a potential negative cash flow.
Once the project is established in the Fund, it is more important than ever to create a clear project path that accounts for the various factors (e.g., property use, regulatory compliance, and budget allocation) which can influence the overall success of the project.
In recent years, the USTCF has become much more fiscally responsible and has revised their operating structure and procedures to more effectively manage current and future spending. These changes often affect how the project is regulated and the pace in which the project advances. Today it is imperative to have a complete and in-depth understanding of the Fund’s requirements and procedures so that the project receives the necessary dollars to maximize site activities while receiving full reimbursement.
In working extensively on projects eligible for reimbursement under the USTCF and preparing hundreds of reimbursement request packages, Stratus has refined our invoicing and billing practices to meet or exceed USTCF guidelines and criteria.
Our invoice structure, detail, and backup have resulted in over 99% recovery from the USTCF for our independent retail operator clients, as well as our small oil company clients such as Ramos Oil, Dawson Oil, Hunt and Sons, and Thrifty Oil. This high standard reduces the time cleanup costs are “out-of-pocket” for our clients, allowing them to focus on their business rather than on how they are going to pay their cleanup costs. Stratus’ ability to close the loop between investigation, remediation, and cost recovery activities allows us to bring a complete package to our clients that is recognized for its quality work product and valued for our fiscal awareness.