NJ Oil Tank Removal Grant

Government Grants News

NJ Oil Tank Removal Grant

NJ Oil Tank Removal Grant – For homeowners, oil tank removal can be one of the most troublesome processes. However, the removal is absolutely necessary because unmanaged oil tank may leak and may cause you some trouble. Some of the possible outcomes from a leaked oil tank are the pollution of drinking water, which may lead to some serious health problems.

The NJ oil tank removal grant was one of the most sought after grant for homeowners. At first, the grant was funded by various sources, and the amount of money collected is around $100 million dollars. There have been several changes over the years, such as the exclusion of commercial places from the grant eligibility.

However, over the years the number of applicant only grows larger, and it soon became obvious that the tank grant should make further changes. For example, non leaking oil tank (even from residential houses) were dismissed. The reason behind this decision is because the replacement of non leaking oil tank is much simpler compared to the leaking oil tank replacement.

New Jersey Oil Tank Grant

New Jersey Oil Tank Grant

NJ Oil Tank Removal Grant Stopped?

Unfortunately, even after all of the restriction additions, the number of applicants exceeds the grant’s capability to meet the demand. Therefore, the New Jersey government has decided to temporarily stop the program back in 2011.

One thing worth noting is that the program is not stopped. Many people think that the program is stopped due to funding problems. However, this is not the case. Currently the NJ oil tank removal grant still accept new grant applications for review, but you may have to wait years before the grant is given. Currently the grant is focusing on the applications that were submitted prior to May 2011. As soon as the mentioned approved grant applications are completed, then they will start to review the oil tank removal grant application submitted after May 2011.

That is why we encourage you to just give it a shot. One important thing to remember is to provide complete application, reasonable cost estimation, and also reasonable scope of work will increase your chance of getting the grant.

NJDEP Oil Tank Removal Grant

NJDEP Oil Tank Removal Grant

NJ Oil Tank Removal Grant Eligibility

Most homeowners in United States are eligible for this grant. But in the spirit of providing you with the best possible information, here are the three main criteria for the grant’s eligibility:

  1. The applicants should have their own property by the time of removal of leaking tank
  2. The net worth value should be less than half a million dollars (value of home and retirement accounts are excluded from the equation)
  3. Have less than a quarter of a million dollar of taxable income

Some special cases may be considered. For example, your application may be prioritize when your submitted application indicates that there’s a leaking oil thank may threat human health, the environment, or may poison the drinking water supply.

Therefore, always provide the complete information for the grant reviewer from your application form. Although you may have to wait for several years, getting help on oil tank removal expenses is a great thing.

References:

  • The Petroleum Underground Storage Tank Remediation, Upgrade And Closure Fund. nj.gov/dep/srp/finance/ustfund/
  • New Jersey Oil Tank Removal Program Guides. http://www.njoiltankremoval.com/nj_tank_removal_program.html
  • Applications – Underground Storage Tank. http://www.njeda.com/web/Aspx_pg/Templates/Pic_Text.aspx?Doc_Id=411&midid=1027&menuid=1027&topid=1018
  • Image: oiltankservices.com, entechgroupinc.com