Or. Admin. Code § 340-180-0030

Current through Register Vol. 63, No. 10, October 1, 2024

Section 340-180-0030 - General Provisions Guaranteed Underground Storage Tank Facility Loan

(1) Property owners, tank owners, and permittees of a UST facility that contains motor fuel may qualify to receive a guaranteed loan for soil remediation, UST upgrading, and UST replacement.

(2) The applicant for a guaranteed loan shall provide a minimum down payment of 20 percent.

(3) The guaranteed loan must be issued by a commercial lending institution.

(4) The loan guarantee provided by the Department may be up to 80 percent of the loan principal, not to exceed $64,000 at any facility location.

NOTE:For example, for a $50,000 UST project, the applicant must provide a minimum 20 percent down payment ($10,000), the commercial lending institution may loan the remaining 80 percent ($40,000), and the Department may only guarantee 80 percent of the amount of money loaned. In this case the loan guarantee would be $32,000.

(5) Loan guarantees shall be issued in a priority order, in accordance with OAR 340-180-0020 and 340-180-0060.

(6) Only one loan guarantee may be issued to each facility.

(7) The loan guarantee is limited to work for soil remediation at a facility where USTs contain motor fuel and work to upgrade or replace the underground storage tank systems containing an accumulation of motor fuel located at a facility where:

(a) The USTs are regulated by OAR Chapter 340, Division 150;

(b) UST system upgrading, retrofitting and replacement is performed by licensed service providers in accordance with OAR 340-160-0005 through 340-160-0150;

(c) UST tightness testing and/or soil assessment was performed prior to issuance of a loan guarantee;

(d) Performance of UST tightness testing and/or soil assessment was in accordance with OAR 340-170-0010 through 340-170-0080;

(e) Each regulated underground storage tank has a valid UST permit; and

(f) Work started after September 1, 1989 and is completed by August 31.

(8) Loan guarantees are not available to pay for soil remediation at a facility undergoing decommissioning, including tank removal or where tanks are being filled in place.

(9) Money from a loan guaranteed by the Department shall only be used for labor, material and equipment listed on the Department published eligible expense list.

Or. Admin. Code § 340-180-0030

DEQ 25-1989(Temp), f. & cert. ef. 10-26-89; DEQ 13-1990, f. & cert. ef. 3-13-90

Stat. Auth.: ORS 466.706 -ORS 466.995

Stats. Implemented: OL 1989, Ch. 1071