|Voluntary Property Purchase Program |
Sasol recognized its new facility and related property acquisitions in Southwest Louisiana would move its operations closer to its neighbors to the west and northwest of its existing facility. In July 2013, Sasol announced a Voluntary Property Purchase Program for residents in those designated areas. Registration for the program is now closed.
Facts about Sasol's Voluntary Property Purchase Program
The Voluntary Property Purchase Program (VPPP) demonstrates how Sasolís commitment to its neighbors.
- Sasol initiated the VPPP as a result of ongoing dialogue with near neighbors. The community requested the program, and Sasol responded.
- Community members had significant input into the design and implementation of the VPPP.
- The purpose of the VPPP was to give near neighbors choices.
- Throughout the process, Sasol hosted community meetings in Mossville one to three times per month, depending on community requests, to answer questions and receive input. In addition to these community meetings, a Sasol representative met individually with Mossville residents, by appointment, twice a week at the Mossville School.
- Additionally, Sasolís on-the-ground counselors met face-to-face with community members to give personal attention and guidance to those with unique situations and concerns.
The Voluntary Property Purchase Program was received well by Sasolís near neighbors.
- More than 85 percent of properties eligible for the program registered to participate, meaning they agreed to have their home appraised.
- As of Nov. 8, 2019, Sasol made approximately 779 offers on parcels; 584 were accepted, 195 were rejected.
The Voluntary Property Purchase Program was designed to provide property owners with offers greater than market value for their property. Other program specifics are outlined below.
- Independent appraisers evaluated the properties in the purchase area. Because there were no recent comparable home sales in the purchase area, comparisons were made for sales in nearby areas considered higher-value. This eliminated any discount that could have occurred because of the location of the properties.
- The offers were for the appraised value of the property, plus 40-60 percent, depending on the type of property. Minimum appraised values were set for the different types of properties to provide additional protection to lower-value properties. For example, the minimum appraised value of owner-occupied homes was $100,000.
- Other allowances and bonuses were made available to help ease the burden of relocation, including an early registration bonus, a miscellaneous expense allowance, a professional advice allowance, closing cost assistance, title work allowance and a clear site bonus.
- Mineral rights remained with the seller.
- The program covered an area much larger than Sasol would have considered to be "near neighbors." Sasol extended the program to the western boundary of the historic community of Mossville because the company felt it was important to include all Mossville community members whether they were near to the siteís boundary or not.
Sasol continues to respond to community questions it receives, meet regularly with all stakeholders, and work with its near neighbors who chose to stay to address the needs of their communities.