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| | 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 F | | | author name = Quichocho J |
| | author affiliation = NRC/NRR/DPR/PRTA | | | author affiliation = NRC/NRR/DPR/PRTA |
| | addressee name = DiNezza T R | | | addressee name = Dinezza T |
| | addressee affiliation = U.S. Bank | | | addressee affiliation = U.S. Bank |
| | docket = 05000020 | | | docket = 05000020 |
Revision as of 04:36, 11 July 2019
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MONTHYEARML1008204722010-04-0606 April 2010 Massachusetts Institute of Technology, Request for Additional Information, Decommissioning Funding Project stage: RAI ML1013405872010-05-11011 May 2010 Mit Self-Guarantee Request - License No. SNM-986, License No. R-37 Project stage: Request ML1019304382010-07-16016 July 2010 Acceptance of the Massachusetts Institute of Technology'S Request to Change to a Self-Guarantee to Provide Decommissioning Funding Assurance for the Massachusetts Institute of Technology Research Reactor Project stage: Acceptance Review ML1020900072010-07-30030 July 2010 Massachusetts Institute of Technology - Correction to Acceptance of the Massachusetts Institute of Technology'S Request to Change to a Self-Guarantee to Provide Decommissioning Funding Assurance for the Mit Research Reactor Project stage: Acceptance Review ML1027100022010-09-30030 September 2010 Massachusetts Institute of Technology, Letter to U. S. Bank Self-Guarantee as a Replacement Financial Assurance Method to Provide Decommissioning Funding Assurance Project stage: Other 2010-07-16
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Category:Letter
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Text
September 30, 2010 Mr. Todd DiNezza U.S. Bank Corporate Trust Services One Federal Street, 3 rd 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, MIT's 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, MIT's 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 PRTA r/f RidsNrrDprPrta RidsNrrDprPrtb RidsNrrDpr JSimpson, NRR KKline, FSME AAdams, NRR GLappert, NRR Accession No. ML102710002 *Concurrence via e-mail **Input provided by ML102440700 TEMPLATE #: NRR-106 OFFICE DPR/PRLB/PM DPR/PRPB/LADPR/PFAB/BC**OGC* DPR/PRLB/BCNAME 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:
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