In the event of a petroleum release from a storage tank, the Virginia Petroleum Storage Tank Fund (VPSTF) normally provides financial assistance for costs incurred for required environmental corrective action once a deductible (“financial responsibility”) is met. For releases from residential and farm tanks, the deductible is $500. The VPSTF assistance is available for VDEQ-required corrective action only. It does not cover Building/Fire Code compliance costs that are exclusive of VDEQ requirements, and it does not cover costs for new tanks.
VPSTF assistance requires pre-approval of activities and accurate claim submittal, so it is important to have an experienced consultant, such as Pollard, handle this process.