Agenda - 07-08-1982 - Laserfiche WebLink

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101 � // �� �� I. 2, recently voted down, in order not to have an "unfinished, unused mess" in Bingham 3, Township. She feels that the site on I-85 and US 70 is far more appropriate than 4, Bingham Township. She cited concerns that if the airport is approved and is success- ful that Special Use Permits may become routine in the area, rendering it useless 5^ for residential purposes. 6. Ms. Anne Gilland yield her opportunity to Mr. Wallace Kaufman who was sworn by Com- mission r Gustaveson (Mr. Whitted was out of the room). Mr. Kaufman presented his ?, credentials to the Boards: 8. I come as a real estate appraise/...my credentials are: I 've been in the real estate business some 15 years. And for the past 10 years most of 9, my work has been appraising real estate, determining values and what affects values and thing like that. I've written about the value of real estate 10. for numerous publications and county papers, the New York Times and nat- ional magazines. And the kinds of clients that I've had are quite varied 11. and they range of course, from individuals to the NCNB Commercial Loand Department, Wachovia's Trust Department, numerous lawyers in the area, the 12, Liggett Group in Durham'.,l've appraised land for OWASA, Chatham, Pittsboro, Chapel Hill and Ca,rboro. And, of course, within my firm we've specialized I3^ in appro1sers''.ve've of course.appraised for Hillsborough, Orange County and a number of other government bodies here, Rocky Mount and all over the 14^ eastern part of the State. We also appraised for the utility companies and for people who oppose the utility companies both, which I think speaks to I�" something of our objectivity. 16. Mr. Kaufman said he would addiess the issue of the value of land adjacent to the 17. 'airport. He said that as he understood the Special Use Permit procedure, the Board of Commissioners, in order to grant the Special Use Permit request, would IO, have to find that the use either does not affect property values in the area or if I9° if does, it either maintains or enhances those property values. He said there 20" were some questions to be asked: 1) "How do surrounding property uses react to an airport?" He cited examples from RUU, where he said the Research Triangle Park 21. had objected "long and loudly" to expansion of that airport; he said few subdivisions 22" had been built near that airport for obvious reasons. Citing HWA, he noted the 23, residents were opposed to it being in theirmidst; hp said if the expansion proposed 214., had been granted values in the neighborhoods surrounding HWA would have dropped. 25" He cited low flying military planes on North Chatham and how Congressman Andrews 26^ had intervened to stop such activity. He summed up the responses to question W 27" 1 by saying that "Almost no where do residents welcome an airport." He said the 28, matter of taste affected property values, the dollar value on real estate. 29. 2) "What creates value in land near tilis proposed airport?" He said that the 30^ most "dwpmrtant" factor was the desirability of this land for residential uses, 3" The rural , "sparsely developed" nature of the area made it more valuable and 32" enhanced its value. 33" 3) Given two homes, which, Mr. Kaufman asked, would you be willing to pay 34~ more for; the one "over which planes buzzed unpredictably" or one which is in 35" a "quieter neighborhood?" He said that if the latter were chosen, then to put 36, that kind of use in an area where it doesn't already exist, is to lower the values. 37. 38, 39.