ExxonMobil officials are discussing whether to buyout homeowners in the Northwood Subdivision affected by the pipeline rupture that spilled thousands of gallons of oil into the Mayflower, Ark., neighborhood.
Meetings to discuss compensation and possibly buyouts started Tuesday (April 16), according to a report from THV 11 NEWS in Little Rock.
The compensation packet obtained by THV 11 News is broken down into four parts. Exxon says it will offer $10,000 to all residents for disruption and any inconvenience.
For landlords, they’re offering rental payments up to a year should tenants move out.
For homeowners looking to sell within three years, Exxon says they will buy the home, paying all closing cost and moving expenses up to $8,000. For homeowners who wish to stay in their homes, Exxon says they will offer a one-time payment to cover depreciation due to the oil spill.
For more coverage, visit www.thv11.com