Port Hope and Area Property Value Protection Program: Creating Stability in the Marketplace

Abstract

The Property Value Protection (PVP) Program, administered by the Low-Level Radioactive Waste Management Office (LLRWMO), functions as an integral part of the Port Hope Area Initiative, a $260M, 10-year project to clean up and safely manage low-level radioactive waste for the long-term in the Port Hope area. The PVP Program was established in March 2001 to compensate owners of residential, commercial or industrial properties in designated parts of the municipalities of Port Hope and Clarington. Compensation is awarded to owners if they realize financial loss on the sale or rental of their property or mortgage renewal difficulties as a result of the Initiative. Key features of the PVP Program include a claim process, an appeal process and the appointment of independent Compensation Officers to hear appeals.