Agenda - 05-27-2014 - C1 - Laserfiche WebLink

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54 Page 3 Next, I measured the impact of an Industrial Plant and a large Manufactured Home Park located across the street from a development These externalities are both clearly visible to the development. I compared three homes in this development to a similar house in a similar development that does not have the Industrial Plant and Mobile Home development influence This study yielded a market derived external depreciation rate of 3% From these two studies I performed, one can see that visible externalities create between 3% and 5% external depreciation based on the market derived data I found an additional study regarding Wind Farms and the impact on surrounding property values This 164 page study can be found at http / /eetd Ibl.gov/EA/EMP This study was performed by Berkley Labs The work described in this report was funded by the Office of Energy Efficiency and Renewable Energy (Wind & Hydropower Technologies Program) of the U S Department of Energy in December of 2009 An abstract of the above study follows. "The present research collected data on almost 7,500 sales of single family homes situated within 10 miles of 24 existing wind facilities in nine different U S states The conclusions of the study are drawn from eight different hedomc pricing models, as well as both repeat sales and sales volume models The various analyses are strongly consistent in that none of the models uncovers conclusive evidence of the existence of any widespread property value impacts that might be present in communities surrounding wind energy facilities. Specifically, neither the view of the wind facilities nor the distance of the home to those facilities is found to have any consistent, measurable, and statistically significant effect on home sales prices " From my two studies in neighboring Alamance County and the with support from the Wind Farm Study, my professional and expert opinion is that the two proposed Solar Farms that will not be visible will have no impact on the market values of the surrounding properties. The Solar Farms with the proposed landscaping buffers and natural buffers will not create a negative externality for the surrounding properties as they will not be visible As a horse farm owner in Southwest Guilford County and as a professional real estate appraiser, I would welcome a solar farm next door to my farm There are certainly much worse uses of land that would harm property values such a Swine Farms, Poultry Farms and other noxious uses that unlike a solar farm can be seen, smelled and heard.