On January 29, 2015, NJDEP released a new Remediation Funding Source (RFS) Form. The purpose of an RFS is to ensure that funds are available to complete the remediation of a site if the person who is required to conduct remediation fails to do so. The amount of the RFS must equal the cost to complete the remediation, including the NJDEP’s fees and oversight costs, and including the estimated cost to operate, maintain and inspect engineering controls. Subsequent to completing the remediation of a site, Financial Assurance (FA) is required to ensure funds exist for long term operation and maintenance of an engineering control.
Formerly called the “Remediation Funding Source – Self Guarantee Form” or the “Remediation Funding Source Form”, the new form is identified as the “Remediation Cost Review and RFS-FA Form” (version 1.7). Links to the new form, instructions for filling out the form and a detailed list of revisions to the form can be found below.
Remediation Cost Review and RFS-FA Form: http://www.nj.gov/dep/srp/srra/forms/rem_funding_source_form.pdf
Detailed list of revisions:http://www.nj.gov/dep/srp/srra/forms/updatelog.htm#rfs