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<br /> 1 the State. I have charted those adjoining uses across the state. You can find that on page 16 of
<br /> 2 the report. I think at the point that I generated this report I had 173 solar farms in that break
<br /> 3 down. And it shows what those adjoining uses are. The vast majority are agriculture and
<br /> 4 residential uses, with a minority of about 5 to zero percent, depending on how you look at it,
<br /> 5 going commercial-industrial adjoining uses.
<br /> 6
<br /> 7 I looked at all these properties adjoining it, based on number of parcels, as well as total by
<br /> 8 acreage. If you look at it just by total acreage, a large farm next to it could distort numbers, but
<br /> 9 if you look at it just by parcels —so you have to look at both. This subject property is very
<br /> 10 similar to this. There's a little bit of highway commercial along 70. Other than that it's primarily
<br /> 11 residential, with a little agricultural next to it. So it's very consistent with what I've seen across
<br /> 12 the state. I've looked at this breakdown whether it was the coastal plains or the piedmont,
<br /> 13 mountains; I get the same breakdown. If I look at it by different counties, I still get that same
<br /> 14 breakdown. It's very consistent across the state. So this is a very similar location where solar
<br /> 15 farms across North Carolina are being located.
<br /> 16
<br /> 17 The other thing I've been doing while I've been quantifying these adjoining uses is looking for
<br /> 18 sales of land next to solar farms, or sales of homes next to solar farms. That's the start of doing
<br /> 19 what's called a paired sale, or match pair analysis. And it's really a straightforward idea. You
<br /> 20 look at something that sold next to the solar farm, and compare it something that's identical, as
<br /> 21 much as possible, in every way, but not next to a solar farm, to measure for the impact.
<br /> 22
<br /> 23 There's really a textbook example of this on page 6, there's a solar farm that was developed
<br /> 24 next to a sub division that was going in in Goldsboro. Homes were under construction, and
<br /> 25 being sold, before the solar farm was announced. So there was no anticipation of a solar farm.
<br /> 26 Then after the solar farm was announced and built, homes continued to be built. So there is a
<br /> 27 breakdown continuing on the following pages, through pages 7 and 8, showing homes sales in
<br /> 28 that area, before and after the solar farm was announced, and also showing homes that
<br /> 29 happened adjoining the solar farm, and those that were down the street, not adjoining the solar
<br /> 30 farm. Same size, same style home, selling for the same price per square foot, regardless of it
<br /> 31 was before or after the solar farm, or whether it adjoins the solar farm, or is down the street.
<br /> 32 There are identical homes, actually the exact same floor plan, selling for the same price,
<br /> 33 regardless — again —whether it was before or after, adjacent or down the street. I talked to the
<br /> 34 builder-developer team who were dealing with this. They indicated that the solar farm presence
<br /> 35 had no impact on how quickly they sold out. So it had no impact on timing of sales. There has
<br /> 36 been a resale of one of those homes that the builder sold to an end user. Sold it in 2013, it
<br /> 37 resold again in 2015. It showed appreciation consistent with what you'd expect in the area, so
<br /> 38 it's had no impact on appreciation on homes sales in that area either. So there's a multitude of
<br /> 39 match pairs that can be looked at it that one development.
<br /> 40
<br /> 41 On the following pages after that, I've got a couple other match pair analysis from some other
<br /> 42 subdivisions, and some agricultural land that I've looked at. They again show no impact on
<br /> 43 those sales. So it is my professional opinion that the proposed solar farm — it is going to be
<br /> 44 located in a place very similar to this — and the match pairs show no impact on value.
<br /> 45 therefore conclude there is no impact on value on the adjoining properties at this location, here
<br /> 46 in Mebane. And again, that's consistent with the fact that this is where solar farms are located
<br /> 47 in North Carolina, and it's also consistent with my experience looking at other impacts. Again,
<br /> 48 do a lot of impact analyses — not just for solar farms —and when you find an impact, there tends
<br /> 49 to be sort of categories where things kind of happen. If you can measure an impact, the biggest
<br /> 50 impacts come from anything that's dealing with hazardous materials. You know, if there's any
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