Out with the old made easier Oil tank replacement program beneficial for homeowners BY JANINE DAVIDGE Advertiser

Gary Wellon, Patrick Chaulk and Terrence Stone replace Beatrice Hynes' furnace oil tank Tuesday in compliance with provincial government's new regulations. The new heating oil storage tank regulations came into effect 2002 and a new new loan program to finance registration and replacing new tanks was announced Oct. 16.Janine Davidge photo

Three Western Petroleum workers stopped off at 95 Circular Road to the home of Beatrice Hynes on Tuesday to replace her old chipped and rusted furnace oil tank with a shiny grey new 900-litre drum.

"It would have cost me close on $1,600 to replace it myself," said Mrs. Hynes. "It's a big help."

Mrs. Hynes' daughter, Margetta Philpott, applied for the provincial government's financing program on her mother's behalf.

The Oil Tank Assistance Program is a provincial government loan program that offers loans to assist households with an annual income of less than $22,397 in replacing their substandard residential oil heating tanks as required now by law.

By May 31, 2010, all oil tanks in the province (with the exception of coastai Labrador) must meet the industry standards of heating oil shortage tank regulations.

"It's a good thing, it's not for us, but for your own safety," said installer Patrick Chaulk as he helped the other men install Mrs. Hynes' new tank.

"The old ones really do need to be replaced. We've seen oil damage from $25,000 to up to $380,000 where we've had to jack up houses and everything."

Mrs. Hynes will have to pay back the loan, but as a more managable cost of $25 per month. She is thankful for the reprieve, she said. She is approaching her 80s, and her husband passed away four years ago. His mother raised 13 children in this home, and Mrs. Hynes and her husband raised six of their own there.

There is a real estate sign on the front  yard, though. When she is able to find a smaller and more manageable home she will sell the house. The new oil tank will help, and is one less thing for her to worry about.

"I don't know about these things," she said. "So my daughter Magretta called and said 'you don't have to worry about it - I've got it all taken care of."

July 31 was the deadline for homeowners to register their oil tanks. The loan program was announced Oct. 16.

"Many low-income families are not able to borrow the required funds from banks or arrange financing through private companies," said Susan Sullivan, minister of Human Resources, Labour and Employment. "This new loan program provides an alternative for these homeowners to finance the cost, and repay the amount with limited financial burden."

Qualified households may also be eligible for a $300 grant applied against the total cost of tank replacement through the Department of Finance.