UST Trust Fund Taskforce Meeting

Financial Solutions for the Cleanup of America



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Recap of CA Cleanup Fund Task Force Meeting, 12-2-2009

Task Force Meeting...

Suspended Claims – On November 17th the Water Board ordered the “un-suspension” of all Priority C Claims by 1/1/10. Allan Patton advised us of the following today regarding the un-suspensions: Letters will be sent out to all Priority C Claimants with prior suspension notices dated 1/1/10 stating that the suspension has officially been lifted and they are eligible to file RR’s again effective immediately. No new RR’s will be accepted by the CUF until this letter has been received by the Claimant (likely the first week of January 2010). However, Allan suggests claimants proceed with the preparation of any RR’s for costs spent on suspended C sites after the suspension notice through present (as long as the costs meet the submittal minimum requirements). Keep in mind, that the global un-suspension of all 1000 suspended claims potentially means that the payment cycle for the Priority C claims will continue to be delayed from 9 – 18 months (based on Fund’s current estimate).

Status of Payments – As of 12/02/09 – $49M anticipated to be available from Oct 2009 Revenues to be paid as follows: $91K A’s – A ll RR’s; $35M B’s – RR’s received thru 9/30/09; $8M C’s – RR’s received thru 10/9/08; $6M D’s - $6M – RR’s received thru 12/31/08; . $15M has already been released from hold status and is in the process of being made with Oct revenues.

AB1188 – Signed into law 11/5/09. All provisions of the Bill went into effect the day the Governor signed it into law, except the funding element. The additional fees are effective starting 1/1/10 for a period of two years. Jay McKeeman stated that this emergency legislative effort was remarkable (virtually unprecedented) and suggested that all stakeholders write thank you letters to Assemblyman Ruskin and his staff member Pete Hartnett for backing this effort.

Reimbursement of Carrying Costs – (as provided in AB1188) - Per Allan Patton, all of the guidance for this issue is not ready to be released to stakeholders, however specific guidance is expected within the next few weeks. Allan did suggest that any Claimant that will qualify for this provision start preparing/gathering the supporting documentation (by way of an invoice) for the carrying costs incurred.
Qualifying RR’s: 1) must have a suspension letter issued on the claim/site; 2) costs must be incurred by the claimant; 3) eligible carrying costs up to 7% APR for period (after 11/7/08) after No Payment Letter issued thru date of State check (or June 30, 2010 whichever is earlier) not to exceed 9% of total amt of costs approved.

Alternate Proof of Payment Form – In order o streamline the payments process, the CUF is in the process of issuing an alternate form that can be used in lieu of individual cancelled checks. The form is expected to be released for use within the next week. This form must be signed by both the Consultant (or Service Provider) and Claimant. Both signatures must be submitted in blue ink. The Fund prefers that the new form is used, however cancelled checks will still be accepted. Watch for this new form very soon.

Stay tuned ... next two meetings scheduled for December 17th and January 14th.

Additional Attachments:
PaymentStatusUpdate12-02-09.pdf