DOW CHEMICAL TO PURCHASE ABOUT 50 PROPERTIES DUE TO POSSIBLE DIOXIN CONTAMINATION
The following excerpt is from the Dow Chemical Company website:
"Midland, MI - February 16, 2012
Earlier today, the Michigan Department of Environmental Quality (MDEQ) announced a proposed plan to resolve the dioxin issue in the city of Midland.
In a related announcement, The Dow Chemical Company today is informing owners of approximately 50 properties in a commercial area near the Michigan Operations manufacturing site about a voluntary property purchase program.
Dow is offering this incentivized property purchase program to give property owners in the immediate area north and east of Michigan Operations (see map) the option to move out of an industrial/commercial area to a residential area, if they so choose. The program will also offer relocation support for those who rent their homes, if the property owner participates in the program.
"We see this as an opportunity to address land use near our manufacturing site and give people still living in this industrial/commercial area the choice to move elsewhere," said Rich A. Wells, vice president and site director for Dow's Michigan Operations.
Dow has retained Community Interaction Consulting Inc. (CIC), a real estate services company, to administer the voluntary property purchase program and help property owners and renters understand their options.
The 50 properties eligible for the program are located within the resolution area outlined in the proposed dioxin agreement announced today by the MDEQ. Property owners who choose not to relocate will be offered testing and remediation of their properties, if necessary.
Dow will donate acquired properties to Midland Tomorrow, the nonprofit economic development entity serving Midland County.
Dow has also established the Midland Resolution Center at 1008 Jefferson Avenue to serve as a resource for property owners. Beginning February 21, 2012, CIC representatives will be available at the Center from 9 a.m. to 5 p.m., Monday through Friday. Homeowners can also find more information online by visiting www.midlandpropertyprogram.com, or by calling (989) 638-7002.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com."