ML20212D456

Informs That NRC Completed Review of Reed College Ltr, ,as Supplemented on 990827 Re Use of Financial Tests & self-guarantee for Providing Reasonable Assurance of Funds for Decommissioning by non-profit Colleges,Univs & Hosps

ML20212D456
Person / Time
Site:	Reed College
Issue date:	09/20/1999
From:	Mendonca M NRC (Affiliation Not Assigned)
To:	Frantz S REED COLLEGE, PORTLAND, OR
References
NUDOCS 9909230124
Download: ML20212D456 (3)

Text

September 20, 1999

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i Mr, Stephen G. Frantz, Director, Reed Reactor Facility -

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Reed College ,;

3203 SE Woodstock Boulevard Portland, Orgen 97202 ,

SUBJECT:

SELF GU RANTEE OF DECOMMISSIONING FUNDS FOR THE REED COLLEGE RESEARCH REACTOR FACILITY IN ACCORDANCE WITH APPENDIX ETO 10 CFR PART 30-

Dear Mr. Frantz:

We have completed our review of the Reed College letter dated March 10,1999, as supplemented on August 27,1999, relating to use of financial tests and self-guarantee for ]'

providing reasonable assurance of funds for decommissioning by non-profit colleges, universities and hosphals. Reed College showed that they has e an unrestricted endowment consisting of assets located in the United States valued at $213 Million. This unrestricted endowment is well above the $50 Million minimum required Further, Reed College has secured an independent auditor's report from KPMG Peat Marwick, LLP, verifying this

- endowment. Finally, Mr. Steven Koblik, President of Reed College, has committed that funds will be provided to carry out the required decommissioning activities, at the time of decommissioning. Therefore, Reed College has met requirement to self-guarantee funds for decommissioning by non-profit colleges.

Sincerely, Original signed by Marvin M. Mendonca, Senior Project Manager I Events Assessment, Generic Communications and Non-Power Reactors Branch Division of Regulatory Improvement Programs Office of Nuclear Reactcr Regulation Docket No. 50-288 l

cc: See next page  !

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• WAtmNGToN, D.C. 30666-0001 September 20, 1999 Mr. Stephen G. Frantz, Director Reed Reactor Facility Reed College 3203 SE Woodstock Boulevard Portland, OR 97202

SUBJECT:

SELF GUARANTEE OF DECOMMISSIONING FUNDS FOR THE REED COLLEGE RESEARCH REACTOR FACILITY IN ACCORDANCE WITH APPENDIX E TO 10 CFR PART 30

Dear Mr. Frantz:

We have completed our review of the Reed College letter dated Marct, 10,1999,as supplemented on August 27,1999, relating to use of financial tests and self-guarantee for providing reasonable assurance of funds for decommissioning by non-profit colleges, universities and hospitals. Reed College showed that they have an unrestricted endowment consisting of assets located in the United States valued at $213 Million. This unrestricted endowment is well above the $50 Million minimum required. Further, Reed College has secured an independent auditor's report from KPMG Peat Marwick, LLP, verifying this endowment. Finally, Mr. Steven Koblik, President of Reed College, has committed that funds will be provided to carry out the required decommissioning activities, at the time of decommissioning. Therefore, Reed College has met requirement to self-guarantee funds for decommisshning by non-profit colleges.

Sincerely,

% b ----

Marvin M. Mendonca, Senior Project Manager Events Assessment, Generic Communications and Non-Power Reactors Branch Division of Regulatory improvement Programs Office of Nuclear Reactor Regulation Docket No. 50-288 cc: See next page l

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Reed College Docket No. 50-288 cc: i l

I Mayor of City of Portland 1220 Southwest 5* Avenue Portland, OR 97204 l

David Stewart-Smith, Administrator )

Oregon Office of Energy Energy Resources Division

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I 625 Marion Street, NE Salem, OR 97310 1

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