Norfolk Southern plans to compensate homeowners whose properties have depreciated after the February derailment. According to Norfolk Southern, homeowners can expect payments within one year.
EAST PALESTINE, Oh — Three months after the train derailment in East Palestine, Norfolk Southern has announced plans to compensate homeowners for depreciated properties. However, homeowners are skeptical.“We come from a small town in East Palestine where our homes aren't worth a whole lot to people,” said Shelby Walker. “They are to us because we've worked so hard for them.”
This week, in a letter to the Senate Committee on Commerce, Science and Transportation, Norfolk Southern has accrued nearly $400 million in charges for the derailment. The company now plans to compensate homeowners whose properties have depreciated after the February derailment. “My home was only worth 60-something thousand before all this, now it’s down to 40-something thousand,” Walker said. “Even if they came and offered me what my home was valued before. That’s not even a down payment nowadays. For me, I am still going to be stuck here.”
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