Wisconsin Department of Commerce Newsletter
December 2005
$50K PECFA Claim Submittals…The Next Step

Previously, the Petroleum Environmental Cleanup Fund Award (PECFA) program sent letters to owners/responsible parties (RPs) requesting that a claim be filed based on the fact that an outstanding lender loan balance of at least $50,000 accrued during the most recent reporting period.  In a continued effort to reduce loan interest costs and avoid unnecessary interest accruals for sites utilizing loans, the PECFA claims review staff is taking the next step and implementing a more aggressive approach to identify sites eligible to file a claim.  Targeted are sites where lenders report an outstanding balance of at least $50,000 or sites that have stalled with the last reimbursement being made two years ago or more with a loan balance that is accruing interest. 

Internal reports generated from the bi-annual lender reporting information will allow PECFA to compare costs from the previous two reporting periods.  This will identify changes in the loan balance and the date of the last claim submittal.  The intent is to identify stalled or 'sleeping dog' sites in an effort to move them toward closure and ultimately save money by avoiding unnecessary interest costs.

-- Renee Dickey

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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