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| number = ML102710002 | | number = ML102710002 | ||
| issue date = 09/30/2010 | | issue date = 09/30/2010 | ||
| title = Massachusetts Institute of Technology, Letter to U. S. Bank Self-Guarantee as a Replacement Financial Assurance Method to Provide Decommissioning Funding Assurance | | title = Massachusetts Institute of Technology, Letter to U. S. Bank Self-Guarantee as a Replacement Financial Assurance Method to Provide Decommissioning Funding Assurance | ||
| author name = Quichocho J | | author name = Quichocho J | ||
| author affiliation = NRC/NRR/DPR/PRTA | | author affiliation = NRC/NRR/DPR/PRTA | ||
| addressee name = | | addressee name = Dinezza T | ||
| addressee affiliation = U.S. Bank | | addressee affiliation = U.S. Bank | ||
| docket = 05000020 | | docket = 05000020 | ||
| Line 18: | Line 18: | ||
=Text= | =Text= | ||
{{#Wiki_filter:September 30, 2010 Mr. Todd DiNezza U.S. Bank Corporate Trust Services One Federal Street, | {{#Wiki_filter:September 30, 2010 Mr. Todd DiNezza U.S. Bank Corporate Trust Services One Federal Street, 3rd Floor Boston, MA 02110 | ||
==SUBJECT:== | ==SUBJECT:== | ||
MASSACHUSETTS INSTITUTE OF TECHNOLOGY - ACCEPTANCE OF THE SELF-GUARANTEE AS A REPLACEMENT FINANCIAL ASSURANCE METHOD TO PROVIDE DECOMMISSIONING FUNDING ASSURANCE FOR THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY RESEARCH REACTOR (TAC NO. ME3002) | MASSACHUSETTS INSTITUTE OF TECHNOLOGY - ACCEPTANCE OF THE SELF-GUARANTEE AS A REPLACEMENT FINANCIAL ASSURANCE METHOD TO PROVIDE DECOMMISSIONING FUNDING ASSURANCE FOR THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY RESEARCH REACTOR (TAC NO. ME3002) | ||
==Dear Mr. DiNezza:== | ==Dear Mr. DiNezza:== | ||
By letter dated October 27, 2009, the Massachusetts Institute of Technology (MIT) submitted a request to the U. S. Nuclear Regulatory Commission (NRC) (Agencywide Documents Access and Management System (ADAMS) Accession No. ML100070108), as supplemented by letters dated December 22, 2009, (ADAMS Accession No. ML101930104), and May 11, 2010, (ADAMS Accession No. ML101340587) to change its method of providing financial assurance to the self-guarantee method as allowed by Title 10 of the Code of Federal Regulations (10 CFR) Section 50.75(e)(1)(iii) for non-profit entities, such as universities. MIT is currently providing financial assurance for decommissioning for the MIT Research Reactor (MITRR), License No. R-37, and its Special Nuclear Materials License, License No. SNM-986 with an escrow account held in trust by the U.S. Bank. The regulation states that | By letter dated October 27, 2009, the Massachusetts Institute of Technology (MIT) submitted a request to the U. S. Nuclear Regulatory Commission (NRC) (Agencywide Documents Access and Management System (ADAMS) Accession No. ML100070108), as supplemented by letters dated December 22, 2009, (ADAMS Accession No. ML101930104), and May 11, 2010, (ADAMS Accession No. ML101340587) to change its method of providing financial assurance to the self-guarantee method as allowed by Title 10 of the Code of Federal Regulations (10 CFR) | ||
The NRC staff reviewed the self-guarantee agreement and corroborating documentation from MIT to cover the cost of decommissioning the afore-mentioned NRC Licenses and, by letter dated July 30, 2010, (ADAMS Accession No. ML102090007), documented findings that the | Section 50.75(e)(1)(iii) for non-profit entities, such as universities. MIT is currently providing financial assurance for decommissioning for the MIT Research Reactor (MITRR), License No. | ||
R-37, and its Special Nuclear Materials License, License No. SNM-986 with an escrow account held in trust by the U.S. Bank. The regulation states that a guarantee of funds by the applicant or licensee may be used if the guarantee and test are as contained in Appendix E to 10 CFR Part 30. | |||
The NRC staff reviewed the self-guarantee agreement and corroborating documentation from MIT to cover the cost of decommissioning the afore-mentioned NRC Licenses and, by letter dated July 30, 2010, (ADAMS Accession No. ML102090007), documented findings that the self-guarantee agreement meets or exceeds the financial test criteria for a non-profit university that issues bonds, that it is acceptable for providing financial assurance, and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30. | |||
Sincerely, | T. DiNezza Since the NRC staff found the self-guarantee acceptable for providing financial assurance pursuant to 10 CFR 50.75(e)(1)(iii), and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30, MITs escrow account is no longer required by the NRC to provide financial assurance. | ||
Jessie F. Quichocho, Chief Research and Test Reactors Licensing Branch Division of Policy and Rulemaking Office of Nuclear Reactor Regulation | Sincerely, | ||
/RA/ | |||
Jessie F. Quichocho, Chief Research and Test Reactors Licensing Branch Division of Policy and Rulemaking Office of Nuclear Reactor Regulation Docket No. 50-020 | |||
T. DiNezza Since the NRC staff found the self-guarantee acceptable for providing financial assurance pursuant to 10 CFR 50.75(e)(1)(iii), and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30, MITs escrow account is no longer required by the NRC to provide financial assurance. | |||
Sincerely, | |||
/RA/ | |||
Jessie F. Quichocho, Chief Research and Test Reactors Licensing Branch Division of Policy and Rulemaking Office of Nuclear Reactor Regulation Docket No. 50-020 DISTRIBUTION: | |||
PUBLIC RidsNrrDprPrtb KKline, FSME PRTA r/f RidsNrrDpr AAdams, NRR RidsNrrDprPrta JSimpson, NRR GLappert, NRR Accession No. ML102710002 *Concurrence via e-mail **Input provided by ML102440700 TEMPLATE #: NRR-106 OFFICE DPR/PRLB/PM DPR/PRPB/LA DPR/PFAB/BC** OGC* DPR/PRLB/BC NAME AAdams GLappert CRegan BMizuno JQuichocho DATE 9/28/2010 9/28/2010 09/02/2010 09/24/2010 9/30/2010 OFFICIAL RECORD COPY | |||
Massachusetts Institute of Technology Docket No. 50-20 cc: | |||
City Manager City Hall Cambridge, MA 02139 Department of Environmental Protection One Winter Street Boston, MA 02108 Mr. Robert Gallagher, Acting Director Radiation Control Program Department of Public Health Schrafft Center, Suite 1M2A 529 Main Street Charlestown, MA 02129 Nuclear Preparedness Manager Massachusetts Emergency Management Agency 400 Worcester Road Framingham, MA 01702-5399 Test, Research, and Training Reactor Newsletter University of Florida 202 Nuclear Sciences Center Gainesville, FL 32611 Office of General Counsel Massachusetts Institute of Technology Attention: Ms. Regina Dugan 77 Massachusetts Avenue Building 10-370 Cambridge, MA 02139}} | |||
City Manager City Hall Cambridge, MA | |||
Department of Environmental Protection One Winter Street Boston, MA | |||
Nuclear Preparedness Manager Massachusetts Emergency Management Agency | |||
Test, Research, and Training | |||
Latest revision as of 13:48, 13 November 2019
| ML102710002 | |
| Person / Time | |
|---|---|
| Site: | MIT Nuclear Research Reactor |
| Issue date: | 09/30/2010 |
| From: | Jessie Quichocho Research and Test Reactors Licensing Branch |
| To: | Dinezza T U.S. Bank |
| Adams, A 415-1127 | |
| References | |
| TAC ME3002 | |
| Download: ML102710002 (4) | |
Text
September 30, 2010 Mr. Todd DiNezza U.S. Bank Corporate Trust Services One Federal Street, 3rd Floor Boston, MA 02110
SUBJECT:
MASSACHUSETTS INSTITUTE OF TECHNOLOGY - ACCEPTANCE OF THE SELF-GUARANTEE AS A REPLACEMENT FINANCIAL ASSURANCE METHOD TO PROVIDE DECOMMISSIONING FUNDING ASSURANCE FOR THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY RESEARCH REACTOR (TAC NO. ME3002)
Dear Mr. DiNezza:
By letter dated October 27, 2009, the Massachusetts Institute of Technology (MIT) submitted a request to the U. S. Nuclear Regulatory Commission (NRC) (Agencywide Documents Access and Management System (ADAMS) Accession No. ML100070108), as supplemented by letters dated December 22, 2009, (ADAMS Accession No. ML101930104), and May 11, 2010, (ADAMS Accession No. ML101340587) to change its method of providing financial assurance to the self-guarantee method as allowed by Title 10 of the Code of Federal Regulations (10 CFR)
Section 50.75(e)(1)(iii) for non-profit entities, such as universities. MIT is currently providing financial assurance for decommissioning for the MIT Research Reactor (MITRR), License No.
R-37, and its Special Nuclear Materials License, License No. SNM-986 with an escrow account held in trust by the U.S. Bank. The regulation states that a guarantee of funds by the applicant or licensee may be used if the guarantee and test are as contained in Appendix E to 10 CFR Part 30.
The NRC staff reviewed the self-guarantee agreement and corroborating documentation from MIT to cover the cost of decommissioning the afore-mentioned NRC Licenses and, by letter dated July 30, 2010, (ADAMS Accession No. ML102090007), documented findings that the self-guarantee agreement meets or exceeds the financial test criteria for a non-profit university that issues bonds, that it is acceptable for providing financial assurance, and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30.
T. DiNezza Since the NRC staff found the self-guarantee acceptable for providing financial assurance pursuant to 10 CFR 50.75(e)(1)(iii), and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30, MITs escrow account is no longer required by the NRC to provide financial assurance.
Sincerely,
/RA/
Jessie F. Quichocho, Chief Research and Test Reactors Licensing Branch Division of Policy and Rulemaking Office of Nuclear Reactor Regulation Docket No.50-020
T. DiNezza Since the NRC staff found the self-guarantee acceptable for providing financial assurance pursuant to 10 CFR 50.75(e)(1)(iii), and that it is in accordance with the provisions of Appendix E to 10 CFR Part 30, MITs escrow account is no longer required by the NRC to provide financial assurance.
Sincerely,
/RA/
Jessie F. Quichocho, Chief Research and Test Reactors Licensing Branch Division of Policy and Rulemaking Office of Nuclear Reactor Regulation Docket No.50-020 DISTRIBUTION:
PUBLIC RidsNrrDprPrtb KKline, FSME PRTA r/f RidsNrrDpr AAdams, NRR RidsNrrDprPrta JSimpson, NRR GLappert, NRR Accession No. ML102710002 *Concurrence via e-mail **Input provided by ML102440700 TEMPLATE #: NRR-106 OFFICE DPR/PRLB/PM DPR/PRPB/LA DPR/PFAB/BC** OGC* DPR/PRLB/BC NAME AAdams GLappert CRegan BMizuno JQuichocho DATE 9/28/2010 9/28/2010 09/02/2010 09/24/2010 9/30/2010 OFFICIAL RECORD COPY
Massachusetts Institute of Technology Docket No. 50-20 cc:
City Manager City Hall Cambridge, MA 02139 Department of Environmental Protection One Winter Street Boston, MA 02108 Mr. Robert Gallagher, Acting Director Radiation Control Program Department of Public Health Schrafft Center, Suite 1M2A 529 Main Street Charlestown, MA 02129 Nuclear Preparedness Manager Massachusetts Emergency Management Agency 400 Worcester Road Framingham, MA 01702-5399 Test, Research, and Training Reactor Newsletter University of Florida 202 Nuclear Sciences Center Gainesville, FL 32611 Office of General Counsel Massachusetts Institute of Technology Attention: Ms. Regina Dugan 77 Massachusetts Avenue Building 10-370 Cambridge, MA 02139