Agenda - 07-19-1982 - Laserfiche WebLink

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^ Mr. John Northen July 19, 1982 Page Two Mr. Siler indicate,- that when the airport was built approximately fifteen years ago, the area was rural an,d was similar in population density and uses to the Midwaysite. Durin� the past fifteen years several subdivisions have been developed in the airport area and' lots are currently being developed and built on that are adjacent to the airport propertN Air. Siler indicated that these houses and lots sell in the same price range as o6erhom- of similar size and' design which are located in other parts of Sanford. The homes built in this area are ii�, the �55,000 to $75,000 price range which based on my knowledge of Sanford housing p . .,rices would be roughly equilivant to Chapel Hill houses in the $70,000 to $90,000 price range. Mr. Siler indicated that based on -his knowledge homes located i) the area around t ,�e airport were no more difficult to sell than homes anywhere else in Sanford. It shouj� be kept in mind that I have not personally verified the infor M- ation that was provided1by Mr. Siler but that I feel that he is a reliable source and has no conflict of interest on this matter. It is my feelinpg thalt the information gathered from Sanford tends to support the market as we know it in Clhapel Hill and it is my opinion that construction of the Midway Airport would not diminishl nor slow future residential development in the area around t,he airpor As to the imnact on existing property values and uses, I do not believe that land being used for tim�er p*poses will be damaged and likewise I do not feel that agriculturally used land would be significantly impaired by the airport. It is likely that existing commercial and in 6trial uses in the area might actually be benefited by construction of the airport. I I hope that my comments will be of use to you and I will be happy to respond to any questions that you might have. sin I Thomas H. Bef Real Estate Appraiser