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1. UU - l~t- 6 ~: 2° recently voted down, in order not to have an "unfinished, unused mess" in Bingham ~~ Township. She feels that the site on I-85 and U5 70 is far more appropriate than ~ Bingham Township. She cited concerns that if the airport is approved and is success- • ful that Special Use Permits may become routine in the area, rendering it useless 5• for residential purposes. 6. Ms. Anne Gilland yield her opportunity to Mr. Wallace Kaufman who was sworn by Com- 7~ mission r Gustaveson (Mr. Whitted was out of the room). Mr. Kaufman presented his credentials to the Boards: 8' I come as a real estate appraiser...rgy credentials are: I've been in 9~ the real estate business some 15 years. And far the past 10 years most of my work has been. appraising real estate, determining values and what affects ld. values and things like that. T've written about the value of real estate for numerous publications and county papers; the New York Times and not- 11. Tonal magazines. And the kinds of clients that T've had are quite varied and they range of course, from individuals to the NCNB Commercial Loand 12. Department, Wachovia's Trust Department, numerous lawyers in the area, the Liggett Group.iri Durham...I've appraised land for OWASA, Chatham, Pittsboro, 1 ~~ Chapel Hill and Carrboro. And, of course, within my firm we've .specialized in appraisers...we ve of course:appraised~for Hillsborough, Drange County 1l~. and a number of other government bodies here, Rocky Mount and all over the eastern part of the State. We also appraised for the utility companies and 15• for people who oppose the utility companies both, which I think speaks to something of our objectivity. 16. Mr. Kaufman said he would address the issue of the value of land adjacent to the 17.~~.airport. 'He said that as he understood the Special Use Permit, procedure, the - 1 8. Board of Commissioners, in order to grant the Special Use Permit request, would _ have to find that the use either does not affect property values in the area or if ~'9• if does, it either maintains or enhances those property values. He said there __. 20° were some questions to be asked: 1} "How do surrounding property uses react to 21• an airport?" He cited examples from RDU, where he said the Research Triangle Park had objected "long and loudly" to expansion of.that airport; he said few subdivisions 2~' had been built near that airport for obvious reasons. Citing HWA, he noted the 2 3• residents were opposed to it being in their midst; he said if the expansion proposed ~4' had been granted values in the neighborhoods surrounding HWA would have dropped. ~5' He cited law flying military planes on North Chatham and haw Congressman Andrews ~6' had .intervened to stop such activity. He summed up the responses to question # ~7° 1 by saying that "Almost no where do residents welcome an airport." He said the . 28' matter of taste affected property values, the dollar value on real estate. 2q' 2) "What creates value in land near ttiis proposed airport?" He said that the 3~• most "ii,mportant" factor was the desirability of this land for residential uses. 31• The rural, "sparsely developed" nature of the area made it more valuable and _-_32~• enhanced its-value. 33° 3) Given two homes, which, Mr. Kaufman asked, would you be willing to pay 34• more for; the one "over which planes buzzed unpredictably" or one which is in 35• a "quieter neighborhood?" He said that if the latter were chosen, then to put 36• that kind of use in an area where it.doesh't already exist, is to lower the values. 37. 3~• 39.