Monday, June 15, 2015 12:00 AM

Michigan Banker Cover Story - Michigan's New UST Cleanup Fund (Updates)


By: Joseph Berlin, PE, CP, EP
Tags: None


The Michigan Banker article was written to assist lenders in the use of the new Michigan Underground Storage Tank Cleanup Fund (Fund) as a risk mitigation tool (see full article below).

Updates Since Article Release (after May 15, 2015):
On June 5, 2015 Governor Snyder released the names of the six (6) nominees for the seven (7) person Underground Storage Tank Authority Board (Board). The unnamed spot is set aside for a representative from the Michigan Department Environmental Quality (MDEQ). The Senate has a 60-day advise and consent period.

The Fund has not been approved by Region V EPA as meeting the Financial Responsibility Requirements (FRRs) for underground storage tanks (USTs). In fact, it does not appear that a complete application has, as yet, been submitted to EPA. With the nomination of the Board the hope is that this process will be completed well before October 1, 2015. 

Link to GGTM blog:  http://www.ggtmlaw.com/governor-snyder-makes-appointments-to-the-underground-storage-tank-authority-board/ 

Please feel free to contact Joe Berlin, PE, QC, CP, Rich Spehar, PE, QC, EP or Marty Janowiak at BLDI’s Grand Rapids main office (616-459-3737) with any questions.

   

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