NJ Oil Tank Removal Grant Program
Did you know that if you are a New Jersey property owner you may be eligible for a NJ oil tank removal grant or loan from the New Jersey Economic Development Authority (NJEDA) Petroleum Underground Storage Tank (PUST) Program?
What is the NJ Oil Tank Removal Grant?
The NJ Oil Tank Removal Grant provides a non-repayable grant to homeowners in New Jersey. These grants are to help finance project costs for the closure and replacement of a non-leaking residential underground oil tank up to 2,000 gallons capacity.
Is the grant available for an oil tank replacement?
Yes, an oil tank replacement that involves the removal of the underground tank to be replaced qualifies under this grant.
Am I eligible?
Applicants with a non-leaking residential underground storage tank are eligible for funding for oil tank removal or oil tank replacement with removal of the old tank. Applicants with a leaking residential underground storage tank are also eligible for funding through a NJ Oil Tank Removal Grant.
What are the limits of funding available?
- Up to $1,200 for the closure/removal of a non-leaking underground storage tank
- Up to $3,000 for the closure/removal/replacement of a non-leaking underground storage tank
- The applicant is responsible for costs above these limits.
What are the requirements?
- The applicant must provide:
- Their last three years Federal Income Tax
- Completed Personal Financial Statement (can be found on njeda.org)
- Non-refundable $250 Application fee payable to the NJEDA
How Do I Qualify?
- The following criteria must be met:
- Annual taxable income of less than $250,000
- Net worth, excluding applicant's primary residence and pension (401K, IRA), of not more than $500,000
- A determination of financial hardship based on whether and applicant can reasonably expect to repay, if the funding were to be awarded as a loan. This is a reimbursement program and is available for a limited time.