BUSINESS

Lac-Megantic Business Owners Get First Wave Of Quebec Financial Aid

11/24/2014 04:22 EST | Updated 01/24/2015 05:59 EST
DigitalGlobe via Getty Images
TRAIN EXPLOSION, LAC MEGANTIC, QUEBEC, CANADA - JULY 7, 2013: This is a satellite image taken the day after a train exploded in Lac Megantic, Canada. (Photo DigitalGlobe via Getty Images)
MONTREAL - The Quebec government has announced its first payment to business owners affected by the July 2013 train derailment and explosion in Lac-Megantic, which killed 47 people.

Quebec's municipal affairs minister says compensation totalling $1.8 million will be made to the owners of nine buildings.

The payment will be made to the town and a designated notary who will contact the owners and pass on the financial aid.

The province says other building owners will receive compensation totalling about $8 million between now and Dec. 31.

Additional payments will be made in 2015.

The payouts are part of a $60-million sum for the reconstruction and revival of Lac-Megantic after a runaway train carrying volatile crude oil slammed into the Quebec town and exploded, destroying much of the downtown core.

Of the total amount, $37 million has been set aside to compensate building owners.

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