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120 <br /> 10 <br /> 2. Matched Pair-White Cross Solar Farm, Chapel Hill, NC <br /> A new solar farm was built at 2159 White Cross Road in Chapel Hill, Orange County in 2013. After <br /> construction, the owner of the underlying land sold the balance of the tract not encumbered by the solar <br /> farm in July 2013 for$265,000 for 47.20 acres, or $5,606 per acre. This land adjoins the solar farm to the <br /> south and was clear cut of timber around 10 years ago. I compared this purchase to a nearby transfer of <br /> 59.09 acres of timber land just south along White Cross Road that sold in November 2010 for $361,000, or <br /> $6,109 per acre. After purchase, this land was divided into three mini farm tracts of 12 to 20 acres each. <br /> These rates are very similar and the difference in price per acre is attributed to the timber value and not any <br /> impact of the solar farm. <br /> Type TAX ID Owner Acres Date Price $/Acre Notes Conf By <br /> Adjoins Solar 9748336770 Haggerty 47.20 Jul-13 $265,000 $5,614 Clear cut Betty Cross, broker <br /> Not Near Solar 9747184527 Purcell 59.09 Nov-10 $361,000 $6,109 Wooded Dickie Andrews, broker <br /> The difference in price is attributed to the trees on the older sale. <br /> No impact noted for the adjacency to a solar farm according to the broker. <br /> I looked at a number of other nearby land sales without proximity to a solar farm for this matched pair, <br /> but this land sale required the least allowance for differences in size, utility and location. <br /> Matched Pair Summary <br /> Adjoins Solar Farm Nearby Solar Farm <br /> Average Median Average Median <br /> Sales Price $5,614 $5,614 $6,109 $6,109 <br /> Adjustment for Timber $500 $500 <br /> Adjusted $6,114 $6,114 $6,109 $6,109 <br /> Tract Size 47.20 47.20 59.09 59.09 <br /> Percentage Differences <br /> Median Price Per Acre 0% <br /> This matched pair again supports the conclusion that adjacency to a solar farm has no impact on adjoining <br /> residential/agricultural land. <br /> 3. Matched Pair-Wagstaff Farm, Roxboro, NC <br /> This solar farm is located at the northeast corner of a 594-acre farm with approximately 30 acres of solar <br /> farm area. This solar farm was approved and constructed in 2013. <br /> After approval, 18.82 acres were sold out of the parent tract to an adjoining owner to the south. This sale <br /> was at a similar price to nearby land to the east that sold in the same time from for the same price per acre <br /> as shown below. <br /> Type TAX ID Owner Acres Present Use Date Sold Price $/AC <br /> Adjoins Solar 0918-17-11-7960 Piedmont 18.82 Agriculatural 8/19/2013 $164,000 $8,714 <br /> Not Near Solar 0918-00-75-9812 et al Blackwell 14.88 Agriculatural 12/27/2013 $130,000 $8,739 <br />