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121 <br />Is <br />The fixed solar panels are all less than 15 feet high, which means that the visual impact of the solar parcels <br />will be similar in height to a typical greenhouse and knwr than a single story residential dwelling. Were the <br />subject property developed with single family housing, it would have a much greater visual impact on the <br />surrounding area given that a taro -story home with attic could be three to four times as high as these <br />proposed panels.. The panels will be located behind a chain link fence. <br />7, Conclusion <br />On the basis of the factors described above, it is my professional opinion that the proposed solar fawn Will <br />be in hannony with the area in which it is to be developed. The breakdown of adjoining uses is similar to <br />the other solar farms tracked. <br />V. Market Commenta <br />I have surveyed a number of builders, developers and investors regarding solar l'arnis over the last year. I <br />have received favorable feedback from a variety of sources, below are excerpts from my conversations with <br />different clients or other real estate professionals. <br />I spoke with betty Cross with Keller Williams fealty in Chapel Hill, who sold the tract of laud adjoining the <br />White Cross load solar farm. She indicated that the solar farm was not considered a negative factor in <br />marketing the property and that it had no impact on the final prince paid for the land. <br />I spoke with Lynn Hayes a broker with Berkshire Hathaway who sold a house at the entrance to Pickards <br />Mountain where the home exits onto the Pickard Mountain, Eco Institute's small solar farm. This property <br />is located in rural Orange County west of Chapel Hill. This house closed in January 2014 for $735,000. <br />According to Ms. Hayes the buyer was excited to be living near the Eco Institute and considered the solar <br />farm to be a positive sign for the area- There afe curremly a number of 10 acre plus lots in Pickards <br />Meadow behind this bouse with lots on the market for $200,DD to $250,000. <br />A new solar farrn was built on Zion Church Road, Hickory at the Two Unes Solar Farm on the Punch <br />property. After c€rnstwction of the solar farm in 2013, an adjoining tract of land with € 8.18 a ms sold for <br />$250,000, or $2,835 per acre. This was a highly irregular tract of land with significant tree cover betvween it <br />and the solar farm. I have compared this to a current listing of 27.39 acres of Umd that is located southeast <br />just a little ways fro m this solar faun: This land is on the market for $69,000, or $3,428 per acre. <br />Generally, a smaller tract of land would be listed for more per acre. Considering as sip adjustment of % <br />per doubling in size, and a 11 P/6 di runt for the likely drop in the closed price off of the asking price, I <br />derive an indicated value per acre of the sraaller tract of $2,777 per am, This is very shnilar to the recently <br />closed sale adjoining the solar farm, which further supports the matched hair analysis earlier in this report. <br />Rex Vick with Windjam Developers has a subdivision in Chatham County off Mt. Gdead Church Goad <br />known as The Hamptons. Home prices in The I larnptons start at $600,000 with homes over I ,1700,000. <br />Mr. Vick expressed interest in the possibility of including a solar farm section to the development as a <br />possible additional marketing tool for the project. <br />