- March 15, 2017
PUST FUND FOR LEAKING UNDERGROUND OIL TANKS:
The PUST Fund
We will assist you in applying for the PUST Fund (Petroleum Underground Storage Tank Fund) offered by the NJEDA and NJEDA for homeowners with leaking UST’s.
How does ADS Help?
As a customer courtesy ADS will complete the application for you and submit your application to the NJDEP. ADS does not charge you for this service.
The NJDEP will continue to accept new applications, record the date received and hold them until sufficient funds become available.
How do I know if I am eligable?
- Eligibility to apply for the grant is: annual income cannot exceed $250,000; net worth cannot exceed $500,000 (excluding your primary residence, 401K, IRA & pension); and the work to be performed is at your primary residence.
- Final determination for qualifying, funding and eligibility is made by the NJDEP & NJEDA not ADS Environmental Inc.
- If the property is an investment property, the grant application must be submitted prior to work start up and a lien will be placed on the project site in the amount of the grant for 5 years. It must be repaid upon the sale of the project. The amount of the grant to be repaid is reduced by 25% each year starting with year two. If an investment property and applying for grant the client needs to inform ADS prior to work startup.
- Estates are not eligible for the PUST Fund unless the liabilities of the estate exceed the assets.
*ADS makes no guarantees on funding availability or homeowners eligibility.
*ADS Environmental Inc makes no guarantee on grant submissions.
Final determination for reimbursement is made by NJDEP and NJEDA.