Railroad giant Norfolk Southern Corp. has revealed an interim plan to provide compensation to eligible homeowners affected by the February train derailment in East Palestine, Ohio. The incident, which involved a train carrying toxic chemicals, caused significant damage to property values in the area.
Eligibility Criteria and Compensation
Under this program, Norfolk Southern will offer compensation to residents within a defined boundary near the Ohio-Pennsylvania border. Homeowners who have sold their homes since February 3, currently have their homes on the market, or plan to put their homes up for sale will be eligible for compensation. The company aims to bridge the gap between the market value of the homes and their sale prices.
Independent Appraisals and Support
Property owners who qualify for the compensation program will undergo an assessment of their home’s value with the assistance of independent appraisers. Upon completion of the sale, they can seek further support through the Norfolk Southern Family Assistance Center (FAC) to recover any remaining amount.
Norfolk Southern is committed to addressing this unfortunate situation and assisting affected homeowners during this challenging time.