I want to thank
Ahmad Rafii at California Diamond Gas Station for forwarding me this information that would have an effect on
gas stations for sale in California:
Are You Ready? Enhanced Vapor Recovery - Phase II
Deadlines - April 1, 2009
Gasoline Dispensing Facilities (GDFs) with underground storage tanks subject to Phase II vapor recovery requirements will need to upgrade to Enhanced Vapor Recovery (EVR) by APRIL 1, 2009.
Nearly 12,000 gasoline dispensing facilities in California will need to obtain permits, purchase EVR equipment, and have the installation performed by a certified contractor by the above deadline.
At a scheduled May 14th, 2008, EVR update session the State Air Resources Board (ARB) reiterated its position that there are ample suppliers and certified contractors available and there will be NO EXTENSION of the deadline.
While it appears that the major oil companies may absorb the expense and cost for franchise facilities, the fate of independent station owners is less certain. To many independent owners these deadlines have now become inflexible. Financing difficulties and the expense of currently approved system equipment have caused further delay for others. Where will the money come from?
According to the ARB, the $8 million dollar 2007-08 RUST fund consisting of loans and grants has been exhausted and while applications for 2008-09 are currently being accepted, funds cannot be released until a state budget is actually signed. Good Luck! The 2007-08 budget was signed in September.
With regionally variable permitting costs and an expected last minute rush to secure certified contractors the impending threat of station closure is real.
How does this affect a decision to sell?
How should this effect an otherwise solid purchase decision?
Station owners and buyers will continue to ponder the answers to these questions. For further information about this topic go to.
www.arb.ca.gov/vapor/advisories/adv373.pdf
California Diamond Gas Station is a full service gas station broker dealing exclusively with the acquisition and sale of gas stations, service stations and other petroleum dispensing facilities. We provide an unique specialized focus which enables us to deliver the highest level of professionalism encompassing every aspect of a purchase or sale transaction. For more information phone Ahmad Rafii at 408-316-4062 or see more information about his services and listings at: http://www.bizben.com/brokers/26579.php on BizBen.com
Posted on June 10, 2008 | 
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