Background:
Timex leased property from the Little Rock National Airport between 1947 and 2000, where it manufactured watches and cameras. During that time, employees used various cleaning solutions (“solvents”) in the manufacturing process that migrated into the soil and groundwater on the property.
Situation:
These solvents have migrated from the former Timex site and are present in the groundwater more than 30 feet under the surface of some properties in your neighborhood.
The groundwater in the affected residential area is not currently used for any purpose, and there are no plans to use this water in the future. The substances in the groundwater (the solvents) do not present any health risk, as long as the groundwater is not used.
The water that is provided to your home by the water utility has no connection to the groundwater under the property. The drinking water is safe and not affected because it is provided by a municipal water utility and comes from Lake Maumelle. This utility provides water to more than 400,000 customers and routinely tests drinking water to ensure quality.
The soil on your property is not affected.
The impacted area extends under some properties on two and a half blocks located between E. 12th Street and E. 11th Street. Approximately 40 properties are located within the affected area, many of which are vacant lots.
Solution:
Timex has voluntarily taken responsibility for investigating and addressing the contamination, and has been working with the Arkansas Department of Environmental Quality (ADEQ) on a plan to reduce the concentration of the solvents. On February 24, 2014, Timex signed an agreement with ADEQ to begin the cleanup.
Timex is committed to making things right with property owners in the affected area. As such, Timex wants to ensure that such owners are fairly compensated. Timex is offering several options to the property owners whose property is located in the affected area:
1. Timex will offer to purchase residential properties in the affected area for the appraised value assigned by Pulaski County. In addition to the appraised value, Timex will pay additional amounts to owners who choose to sell their properties, as follows: (a) for owners of properties that include a residential home, Timex additionally will pay $3,000 to compensate such owners for moving expenses; (b) for owners of vacant lots only, Timex will additionally pay $1,000. Timex will cover all reasonable closing costs.
2. For homeowners who wish to take advantage of Timex’s purchase offer, but do not wish to move, Timex is offering to lease back the property to the homeowner at fair market rent. Timex will not offer $3,000 to these homeowners, but as additional compensation, Timex will charge no rent during the six months following the sale.
3. For those property owners that do not want to sell their property, Timex will offer to pay such owners 30 percent of the appraised property value assigned by Pulaski County in exchange for a deed restriction on the property that prevents the use of groundwater and a release of property damage claims.
These offers are purely optional; property owners are not required to sell their property or relocate. The offers to property owners will stay open until February 1, 2015. There is no risk to staying on the properties, so long as groundwater is not used. The offers are being mailed to the property owners of record. These offers are made as a measure of good faith, and are not intended to be a representation of any damage to property. In the event that a residential property purchased by Timex is occupied by a tenant, Timex will work with the tenant to see if it is possible to enter into a new lease after the sale closes.
Timex also will seek an ordinance from the City of Little Rock to ensure that the groundwater is not used and that no groundwater wells are drilled. These measures will protect people from inadvertently using the groundwater in the future.
Discussion:
Timex hosted a town hall meeting on March 13, 2014, at 6 p.m. at the East Little Rock Community Center at 2500 E. 6th Street for residents and property owners who had questions or wanted more information.
For additional information, please call 501-218-8995 or visit www.timexlittlerock.com.