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9/20/2023
Norfolk Southern Railway announced Monday it would offer an interim value assurance program (VAP) to compensate East Palestine, Ohio, homeowners for any loss in residential property value following the Feb. 3 NS train derailment.
The announcement comes as NS is working toward a long-term program as part of broader commitments the railroad made in March to help the East Palestine area recover from the derailment’s impact, company officials said in a press release.
Through the interim VAP, homeowners can be compensated for any difference between their home's market value and its sale price. The program applies to residents in the defined area in and around East Palestine who’ve sold their homes since Feb. 3, currently have their homes on the market or who will put their homes on the market, NS officials said.
A map of the defined area is available here.
The interim VAP will also be available for future sales as NS develops the full long-term program in concert with stakeholders involved in that legal process. At the time of the long-term VAP announcement, the interim plan will end and the long-term VAP requirements will apply, company officials said.