Norfolk Southern creates fund for homeowners near Ohio derailment to compensate for decline in value

and residents near the crash have all filed lawsuits against Norfolk Southern over the derailment.

Shaw said in a letter late Tuesday to the Senate Committee on Commerce, Science and Transportation that while the company has total accrued charges of for the derailment, that amount doesn’t include expected costs for funds tied to falling property values, long term health care or water treatment. It also doesn’t reflect payments the railroad will receive from its insurance.

Shaw anticipates that homeowners eligible for compensation will initially include those with homes within an approximately five-mile radius of the derailment that happened near the Ohio-Pennsylvania border, and who sell their homes for less than what their property was appraised at before Feb. 3, when the derailment took place.

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