Current through Register Vol. 63, No. 3, March 1, 2024
(1) The UST financial assistance application
shall include, at a minimum:
(a) The
applicant's name, mailing address and phone.
NOTE: An applicant must be the property owner, tank
owner or permittee.
(b) The signatures and phone numbers of the
property owner, the tank owner and the permittee of facility;
(c) The UST facility location information
including:
(A) Facility name, street address,
city and county; and
(B) Where the
applicant intends to qualify for Tier 3 and 4 financial assistance:
(i) The distance to nearest retail gas sales
facility if the applicant's facility is outside an incorporated city measured
in accordance with OAR 340-172-0070(2)(d)(C)(iii); or
(ii) The name of the city, if the applicant's
facility is the only retail UST facility reselling motor fuel within a city
listed in the 1991/1992 Oregon Blue Book.
(d) The UST facility number;
(e) The date of the application;
(f) Description of the UST project work area
including a scaled drawing (contractor's or engineer's drawing) showing, but
not limited to, property boundaries, location of structures, location and
identification of the existing underground storage tanks containing an
accumulation of motor fuel. Where AST(s) replace UST(s) the application shall
also include:
(A) Description of the AST
project work, installation specifications and a scaled installation drawing
(contractor's or engineer's drawing) showing all information necessary to
determine compliance with local and state fire codes and federal regulation 40
CFR 112 including, but not limited to:
(i)
Spill containment structures;
(ii)
Control equipment to allow removal of motor fuel and rainwater from the spill
containment area;
(iii) Overfill
prevention devices;
(iv) Piping and
valving;
(v) Atmospheric and
emergency venting; and
(vi) Tank
construction details.
(B) A copy of the Spill Prevention Control
and Countermeasure (SPCC) Plan certified by a registered professional engineer,
as required by federal regulation 40 CFR 112.
(g) Description of the UST project work
including a scaled drawing (contractor's or engineer's drawing) showing those
items and activities that are not part of a UST system but are required because
of construction interference.
NOTE: OAR 340-172-0020(6)(a)-(e) describe the UST
project work that may qualify for financial assistance.
(h) Total project cost in the form
of a bid or estimate for the proposed UST project work or the actual cost where
UST project work is completed prior to filing an application under these rules.
Where there is no site assessment information on possible petroleum
contamination, a bid or estimate shall include the following costs for
corrective action:
(A) For a facility with:
(i) One tank, include soil cleanup costs of
$6,000;
(ii) Two tanks, include
soil cleanup costs of $9,000;
(iii)
Three tanks, include soil cleanup costs of $12,000;
(iv) Four tanks, include soil cleanup costs
of $15,000;
(v) Five tanks, include
soil cleanup costs of $18,000;
(vi)
Six or more tanks, include soil cleanup costs of $21,000.
(B) Include groundwater cleanup costs of
$25,000 for each facility where seasonal groundwater exists at ten feet or less
below the surface of the ground according to available records from the Oregon
Department of Water Resources, U.S. Soil Conservation Service, U.S. Geological
Service, or equivalent information.
(i) For persons intending to qualify for
Tiers 2, 3, and 4 financial assistance, a determination of the financial
assistance ratios in section (2) of this rule by an Oregon licensed public
accountant based upon the tank owner's business or personal financial
information showing all assets, income from all sources, outstanding debts and
liabilities, including financial information from sole proprietors, all
partners of a partnership or joint venture, corporations, and all wholly owned
subsidiaries of corporations. The information furnished by the applicant to the
accountant shall be adequate to allow the licensed public accountant to prepare
a compiled pro forma fiscal year-end financial statement and shall include:
(A) Federal and state income tax filings for
most recent fiscal year; or
(B) The
most recent pro forma fiscal year-end financial statement or, where
unavailable, on the most recent fiscal year, a compiled pro forma year-end
financial statement prepared by a licensed public accountant.
(j) Where a UST remains in the
ground and a site assessment is not part of the UST project work, the
application shall include a report of the site assessment work described in OAR
340-172-0050;
(k) Insurer's written
quote; and
(l) Other information
required by the Department.
(2) A licensed public accountant shall
determine the following financial ratios from the information provided by the
applicant in subsection (1)(i) and section (3) of this rule and definitions in
Appendix 1. The calculated ratios shall be rounded upward to the nearest
hundredth whole number:
(a) Current
Ratio;
(b) Debt to Equity Ratio;
and
(c) Debt Service Coverage
Ratio.
NOTE: See OAR 340-172-0070(3) and Appendix 1 for
criteria to determine the ratios in this subsection.
(3) The following estimate of
liabilities associated with upgrading the USTs containing motor fuel for resale
shall be added to the applicant's compiled financial statement prior to
calculation of the ratios in section (2) of this rule. For each facility for
which an application is submitted for financial assistance the licensed public
accountant shall add the liabilities associated with a $125,000, 5.0 percent
fixed interest rate, ten year term loan. The $125,000 pro forma liability for
UST project work is comprised of $35,000 for corrective action work and $90,000
for other UST project work.
[NOTE: Appendices and publications referenced are available
from the agency.]
The Appendix referred to or incorporated by reference in this
rule is available from the agency. Publications: The publication(s) referred to
or incorporated by reference in this rule are available from the
agency.
Statutes/Other Implemented: OL 1991 & Ch. 863
