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EI <br /> THOMAS H. HEFFNER • REALTOR • REAL ESTATE APPRAISER • CONSUM <br /> 137 FAST ROSEMARY STREET • CHAPEL HILL. NORTH CAROLINA 27514 • (919)968, <br /> July 19, 1.982 <br /> Mr. John Northen <br /> Attorney at Law <br /> 431 West Franklin IStreet <br /> Chapel Hill, Nort Carolina 27514 <br /> Re: - Midway Airport, Orange County, North Carolina. <br /> Dear Mr. Northenl <br /> Pursuant to your I�95uest, I have reviewed the plans for the above captioned property. <br /> It is my understanring that at the last public hearing on this project that a significant <br /> amount of discussion centered around the question of property value diminution as a <br /> result of airport construction. I regret that a previous commitment makes it impossible <br /> for me to attend tonight's Commissioner's meeting; however, I hope that you will submit <br /> this letter on my b6half as a comment on the property value issue. As you know, I am <br /> a fee appraiser in 'Chapel Hill and have just completed a term on the Orange County <br /> Board of Equalizati <br /> tached resume. on and Review. My additional qualifications are included in the at- <br /> It is my understanding that another local appraiser, Wallace Kaufman, spoke at the last <br /> public hearing and (raised the issue that property values might be diminished as a <br /> result of construction of the Midway Airport. To reach an dpinion on this question I <br /> examined land and 'lot sales in the area surrounding Chapel Hill's Horace Williams Airport <br /> and also received information from Mr. Hal Siler of the Sanford Chamber of Commerce <br /> concerning property values of land surrounding the Sanford/Lee County Airport. Most <br /> of us are familiar with the Horace Williams Airport in Chapel Hill. At the time it was built <br /> it was effectively in a rural setting. In the following years development occurred in the <br /> area surrounding the airport including single family residences, schools, and instutional <br /> buildings of the University i-versity of North Carolina as well as the Chapel Hill YMCA and a churc <br /> All of this developme' nt occurred with knowledge of the airport. While it would be difficul <br /> to contend that the 1pr*esence of the airport enhanced the value of these properties, it is, <br /> I believe, safe to sad that it did not have a detrimental effect on surrounding property <br /> values. In fact property values on the northern side of Chapel Hill, where the airport <br /> op <br /> is located, are among the highest in Chapel Hill. Residential developments such as Coker <br /> Hills West have been developed in what is essentially the flight pattern of the airport and <br /> command some to the'I -highest lot prices in Chapel Hill. <br /> In an effort to determine if the value and development condition in Chapel Hill was unique, <br /> I received information from Mr. Hal Siler, Director of the Sanford Chamber of Commerce. <br /> Mr. Siler was familiar with the growth and development of the Sanford/Lee County Airport <br /> Sanford was chosen for analysis since it is about the same size as Chapel Hill and its airpo, <br /> at 4200 feet is similar in size and projected traffic type to the proposed Midway Airport. <br /> I <br />