UST Release Cost Recovery and Reimbursement
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Underground Storage Tank Release Cost Recovery and Reimbursement
Maximizing cost recovery for remediation efforts of petroleum storage tank releases is a primary driver for our clients. Our state-specific experts are dedicated to securing any past and future eligible expenditures associated with any confirmed-eligible release.
Over the past 21 years, Antea Group’s cost recovery team has prepared eligibility applications, submitted applications for payment, and managed claims for every state reimbursement fund in the nation, and has recovered over $250 million in claims for our clients.
A Proven Historical Reimbursement File Review Process
Depending on a client's need, our approach will begin with a thorough review of your site-specific release documentation. We then analyze your historical and planned future expenditures to assess and prioritize the full cost recovery potential for an individual site or your entire portfolio. Comprehensive management of your remediation reimbursement and financial data is critical to maximize and expedite recovery of expenditures in your portfolio.
For states that still allow the recovery of historical costs, our historical reimbursement file review (HRFR) process is designed to audit total fund eligible spending against previous submittals to identify missed costs, or “lost money.” We review each release since fund inception to determine its eligibility and determine if any previously overlooked eligible costs exist. Our HRFR process has captured millions of dollars for our clients in funds that were previously overlooked or lost by previous consultants.
Through our completion of the HRFR and submittal of all historic costs, we develop a baseline of eligibility. Next, we develop a program that ensures all eligible future costs are accounted for, submitted, and followed-through in a timely and efficient manner. Our specialists uncover and track the activities to fully manage your cost recovery efforts.
Managing Every Aspect of the Cost Recovery Program
Once you implement our cost recovery program, we manage every aspect of the recovery process for you. We collect the documents, schedule the claims processing, prepare the claims, work with state funds to achieve the highest possible return, and we track your data per your requirements. In addition, the use of an outside firm that specializes in the preparation of UST fund claims ensures that you are current with the ever-changing regulations associated with each state’s program. Some states will even reimburse the costs for the claim preparation, or a portion of it if it is performed by someone other than the claimant.
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