Agenda - 10-13-1981 - Laserfiche WebLink

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:774 . , 046 and, in fact, its location is not especially desirable. The primary reason why the location is not terribly attractive is the proximity of the State Employees' Credit Union and t parking lot that serves this facility. My back yard is separated from the Credit Union parking lot by a very narrow back yard of a house that is owned by the Credit Union. the back yard of the adjacent house is covered with gravel, and is, in effect, also a parking_ lot. Unlike a campus parking lot in which people arrive in the morning and then depart in the late afternoon, there is constant traffic in the Credit Union's lot, with cars constantly entering and exiting. (Ibought my house in 1973, in one day bidding against another buyer, unaware that the Credit Union planned to construct its facility so near my home). Now of course I appreciate the advantage of living so close to campus and town - and this is particularly crucial for me since I do not drive because of poor vision. But this advantage, shared by many other streets near town, is more than countered by the very real nuisance of living so close to a busy bank. I believe that anyone who was willing to pay $101,000 for a hone in Chapel Hill (even setting aside the current high interest rates) would not be attracted to a home where one's peace would be regularly disturbed by the presence of such an obtrusive commercial, institution, not to mention the fear that the Credit Union would expand further, making home life even more intolerable -1, FurUermore, a house located on Vance Street, about 100 yards further away frOM Piti born Street and from the Credit Union, which is twice the size of my house, sat on the market for several years and was finally sold for substantially less than $100,000. To my kknowledge, no house on Vance Street has ever been sold for $100,000. I know of houses on Gimghoul Street of similar size and condition which were appraised at less than $100,000 though it is clear that Gimghoul is a far more desirable street than Vance. I think that I am a victim of the appraiser's failure to appreciate more subtle distinc- tions in streets within a particular area of the town and not to take into account how the presence of the Credit Union would influence a prospective buyer's willingness to make such a substantial offer. Would you pay $101,000 to listening to the Credit Union traffic or to 'p.sten to the Sanitation Department empty the large canisters before dawn twice a week. I are sorry for the length of this letter and I would certainly appreciate the — opportunity to elaborate on my case before the County Commissioners, I am looking for rd to hearing from you. FP7 0,-,i (.1