US EditionNorfolk Southern announces details of plan to pay for lost home values because of Ohio derailment
- Norfolk Southern Corporation has announced an interim Value Assurance Program to compensate for the reduction in value of eligible residential properties in East Palestine, Ohio, and surrounding communities after a derailment incident in February. The program aims to fulfill the company's promise to make it right and protect the home values of the community.
- The program will compensate residents in the defined program area who have sold their homes, currently have their homes on the market, or plan to put their homes on the market. Independent appraisers will assess the value of their homes, and homeowners can recoup any difference through the Norfolk Southern Family Assistance Center after the sale. However, accepting compensation through the program means homeowners will have to forego property damage claims from lawsuits against the railroad.
- While the program provides benefits to homeowners, some critics believe Norfolk Southern should prioritize addressing health concerns in the area. The long-term fund negotiations for compensation and cleanup costs are still ongoing, and the total cost is estimated to be over $800 million.
22 Articles
22 Articles
Norfolk Southern to pay Ohio town residents for any lost home value after a train crash and resulting health worries decimated the local economy
Some critics say the railroad should be doing more to address those health concerns instead of worrying so much about economic recovery in the area.
Here’s how Norfolk Southern plans to pay homeowners over Ohio derailment losses
The railroad’s program will no doubt be welcomed by some people who want to sell their homes and move away rather than deal with the lingering health worries, but some critics say the railroad should be doing more to address those health concerns.
Norfolk Southern sets up promised fund to compensate homeowners who lost value after derailment
Norfolk Southern set up its promised fund to compensate homeowners in and around East Palestine who see their property values decline as a result of February’s derailment of a train carrying toxic chemicals.
Norfolk Southern announces details of plan to pay for lost home values because of Ohio derailment
The railroad estimates that the cleanup will cost more than $800 million, which includes $74 million that Norfolk Southern has pledged to help East Palestine recover.
How Norfolk Southern plans to pay for lost home values during train derailment
***Video above: Norfolk Southern settled safety violation claims months before East Palestine train derailment*** (AP) - Norfolk Southern announced new details Monday about its plan to compensate East Palestine residents for lost home values since the fiery derailment disrupted life in the eastern Ohio town in February. The railroad's program will no doubt be welcomed by some people who want to sell their homes and move away from the town rather…
Norfolk Southern announces details of plan to pay for lost home values because of Ohio derailment
Norfolk Southern announced new details Monday about its plan to compensate East Palestine residents for lost home values since the fiery derailment disrupted life in the eastern Ohio town in February. The railroad’s program will no doubt be welcomed by some people who want to sell their homes and move away from the town rather than deal with the lingering health worries. But some critics say the railroad should be doing more to address those hea…
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