ORD-2006-105 - Piedmont Electric Membership Corporation (PEMC) Planned Development (PD-OI) and Special Use Permit, Class A

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/Yf Page 2 Piedmont Electric Issue Number 3 Changing Traffic Pattern — As you are keenly aware, the traffic pattern on HWY 86 has changed a great deal in the last four years. This is due in large part to the newly developed commercial complex which is now home to Super Walmart & Home Depot. Joppa Oaks Neighborhood: From 1/1/2000 to 12/1/2002, the average price per SF for Joppa Oaks was $52 per SF. The sales data review from 1/1/2005 to 11/24/2006 for Joppa Oaks indicated an average price per SF of $49. Ones first conclusion is the increased traffic patterns have had a negative impact on the Joppa Oaks property values. That conclusion would not tell the whole story of Joppa Oaks. Sixteen of the twenty homes sold in Joppa Oaks from 1 /1/2005 to 11/24/2006 were manufactured single or double wide mobile homes. This ratio of manufactured homes to stick build homes is approximately 90 percent manufactured homes to 10 percent stick built. Unfortunately manufactured homes do not appreciate similarly to their stick built counterparts. My conclusion: the lot the manufactured homes sit upon has continued to appreciate while the manufactured homes have depreciated at a rate greater than the real properties appreciation rate. This market drive phenomenon further complicates the extraction of the higher towers impact on the adjacent property values. (see attached sales data) Wildwood Neighborhood: From 1/l /2000 to 12/1/2002, the average price per SF for Wildwood was $93 per SF. The sales data reviewed from 1/1/2005 to 11/24/2006 for Wildwood indicated an average price per SF of $111: Beckett's Ridge Neighborhood: In 1/1/2000 to 12/1/2002 the average price per SF for Beckett's Ridge was $95 per SF. The sales data reviewed from 1/1/2005 to 11/24/2006 for Beckett's Ridge indicated an average price per SF of $103. I have also reviewed the property appreciation for the areas identified by the Triangle Multiple Listing as areas 213 & 214. MLS map areas 213 &. 214 incorporated both the Piedmont Electric campus and the neighborhoods noted above. (See attached MLS Location Map) From 1/1/2000 to 12/31/2001, there were 78 properties sold at an average price of $192,545. From 1/1/2006 to 12/1/2006 there were 50 properties sold at an average price of $285,961. The property appreciation for these areas has been approximately 48.5 percent. Issue Number 4 Visibility Study - The attached balloon tether report. I have relied upon the attached report to conclude at what point the balloon at a height of 350 feet was visible. The page of the report labeled "Area of Visibility Map Piedmont EMC" notes the area where the balloon was not visible (noted NV on the attached map). The majority of reference points within residential neighborhoods were Non Visible. It goes without saying that if a homeowner can not see the tower, then it is my conclusion that the tower does not negatively affect them. Conclusions: After my review and - analysis of attached reports, the attached Triangle Multiple Listing Data and my personal inspection of the proposed tower site, it is my conclusion if a property owner can not see or has a limited view of the tower, can not hear the tower or establish a direct external impact ( i.e. increased traffic patterns /railroad noise) from the towers increased height to 350 feet, there will not be a direct impact on adjacent or surrounding property values.