EAST PALESTINE, OH (WTAJ) — Homeowners in East Palestine, Ohio, and its surrounding areas may be eligible to receive compensation from railway company Norfolk Southern after one of its freight trains carrying hazardous materials derailed in February.
The company announced Monday an interim Value Assurance Program that will compensate eligible residential property owners for any reduction in value. A map of the defined program area which extends into parts of Pennsylvania can be found on Norfolk Southern’s website.
Norfolk Southern said it’s working toward a long-term program to help financially benefit East Palestine and nearby residents.
“This is another step in fulfilling our promise to East Palestine to make it right. Norfolk Southern is steadfast in keeping our commitments, including protecting the home values of the community,” Norfolk Southern President and CEO Alan H. Shaw said. “This program aims to give homeowners the reassurance they need.”
According to Norfolk Southern, residents who are eligible for the program include anyone who has sold their homes since the derailment on Feb. 3, who currently have their homes for sale or who are putting their homes up for sale.
The company said it would compensate homeowners any difference between their home’s market value and its sale price.
More information about Norfolk Southern’s Interim Value Assurance Program and its long-term program can be found on its Making it Right website.