Orange County NC Website
Browse       Search
DRAFT <br /> <br />OC Board of Adjustment – 11/9/15 Page 13 of 156 <br /> <br />Laura Goode: So earlier you testified that you retained by Towercom to do a real estate analysis 1 <br />of the impact of the cell tower on adjacent properties. Did you prepare a report for that? 2 <br /> 3 <br />David Smith: I did. 4 <br /> 5 <br />Laura Goode: Is Exhibit 32 of the application, as well as supplemental item G, are those your 6 <br />report in your supplemental reports? 7 <br /> 8 <br />David Smith: I asssume so. Yes, that looks like my report. 9 <br /> 10 <br />Laura Goode: What is the difference between those two reports? 11 <br /> 12 <br />David Smith: One does an analysis of just a subdivision in Wake County and the other includes 13 <br />two announces that I did in Orange County. 14 <br /> 15 <br />Laura Goode: And did you come to an opinion based on the analysis that you did in a report that 16 <br />you prepared about what any impact the proposed tower will have to contiguous property values? 17 <br /> 18 <br />David Smith: I didn’t think it’d have any adverse impact on property values of the adjacent parcels. 19 <br /> 20 <br />Laura Goode: So let’s talk about the basis of that opinion. What were the methods you used in 21 <br />preparing these reports? 22 <br /> 23 <br />David Smith: I did a match pair analysis, and in that you find one property that has been adjacent 24 <br />to a tower and you compare it to one that’s away from a tower. Inaudible Sunrise Road, just 25 <br />North of Chapel Hill, and I compared with a property on Kelly Court to the West of Chapel Hill and 26 <br />there were some in those respects and I adjusted many differences and then got a per square foot 27 <br />value and they were comparable. So I didn’t see any impact from the one that had the tower and 28 <br />the one that didn’t. 29 <br /> 30 <br />Laura Goode: When you say a match pair analysis, is that an accepted method for evaluating the 31 <br />impact to property values or proposed use? 32 <br /> 33 <br />David Smith: That is the accepted practice by the appraisel institute. 34 <br /> 35 <br />Laura Goode: Ok. Were there any other methods that you used in your report? 36 <br /> 37 <br />David Smith: I also looked at two subdivisions. One was in Lake Hogan Farms in Carrboro and it 38 <br />was a large tower next to that, it was a lattice tower that had a light on it and it was clearly visible 39 <br />15