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Shell to pay for cost of acquiring buffer property near cracker site

Jim Palmer, president of the Beaver County Corporation for Economic Development, said CED is acquiring about 54 acres that sit between the Shell site and the BASF and NOVA Chemicals properties.

The sale of the land, currently owned by the Lyondell Environmental Custodial Trust, is expected to close later this month. Palmer on Tuesday declined to disclose the sale price.

While Shell isn’t technically the buyer of the land, the company is underwriting the cost of CED acquiring the land. Under the agreement, CED will retain ownership but will sign a land covenant stating that no development of any kind can take place on the property.

“Shell came to us, and as they were going through their due diligence, they wanted additional property as a buffer for whatever reason,” Palmer said. “They asked us to make the acquisition, and they are supporting us on the cost of it.”

The land in question is nestled between Route 18 and the Ohio River and bordered on each side by the Shell site and BASF, as well as Raccoon Creek.

Shell spokesman Joe Minnitte on Wednesday declined to comment on the matter.

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