Reuters
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Norfolk Southern (NSC.N) said on Monday it launched an interim program to compensate homeowners around East Palestine, Ohio who have had to sell their properties at a reduced value following a Feb. 3 train derailment that spilled toxic chemicals.
The program applies to parts of Ohio and Pennsylvania near the derailment site and applies to those with homes on the market, future listings or sold since Feb. 3. The railroad first announced plans in May to create the program. The train caught fire and released over a million gallons of hazardous materials and pollutants.
Senator Ted Cruz, the top Republican on the Senate committee that oversees railroads, said Norfolk Southern had made good on the promise it made in May, calling the fund "one of the most consequential actions taken to date for helping Ohioans and Pennsylvanians affected by the accident."
The fund covers a radius of approximately 5 miles (8 km) around the derailment. Cruz said the total coverage is 91 square miles, including portions of Columbiana and Mahoning Counties in Ohio and Beaver and Lawrence Counties in Pennsylvania.