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Approved 3113117 <br />1 <br />2 Barry Katz: We don't want to spend any more time than we have to on this but all I'm saying is as <br />3 you say location, location, location this is a particularly unique location and we're talking about an <br />4 opinion about what the value of that property, and how it's affected by that pole. <br />5 <br />6 Michael Ogburn: That is correct, that's what an appraisal is, an opinion of value. That's correct. <br />7 Yes sir. <br />8 <br />9 Barry Katz: Ok, fine. <br />10 <br />11 Samantha Cabe: Any questions from you Karen? Alright, does that applicant have questions? <br />12 <br />13 Laura Goode: I have a few questions, thank you... Good evening, I'm Laura Goode. <br />14 <br />15 Michael Ogburn: I'm sorry, Margo? <br />16 Laura Goode: Laura Goode. <br />17 <br />18 Michael Ogburn: Ok. Nice to meet you Mike Ogburn. <br />19 <br />20 Laura Goode: Ok. So your opinion was that the erection of a cell phone tower adjacent to a <br />21 subject property would create a loss of twelve percent? Is that correct? <br />22 <br />23 Michael Ogburn: So what we found was then those properties that were most immediately <br />24 adjacent to the cell phone tower in Cobble Ridge were twelve percent smaller than the median <br />25 size of houses sold the same price per foot. Therefore the conclusion would be that there was an <br />26 adverse effect there and if you do the math it probably works out to be somewhere in the <br />27 neighborhood about ten percent as compared to the entire neighborhood. If you then compare <br />28 Cobble Ridge to the neighborhood across the street that does not have the cell phone tower that <br />29 differential was twelve percent. <br />30 <br />31 Laura Goode: And you state in your report that as such it would my opinion that the erection of a <br />32 cell phone tower adjacent to the subject property would create a loss of twelve percent? <br />33 <br />34 Michael Ogburn: Yes. <br />35 <br />36 Laura Goode: Ok. But this property, Owen Gwen's property, is not adjacent to the proposed tower <br />37 property, is that correct? <br />38 <br />39 Michael Ogburn: Yes. <br />40 <br />41 Laura Goode: And in fact there are approximately five properties in between Mr. Gwen's property <br />42 and the subject property, and I'll show you on the map of this. <br />43 <br />44 Michael Ogburn: Ok.... Yeah, four or five depending on how you count, that's correct. <br />45 <br />46 Laura Goode: Ok. And I would introduce this into the record. I'm not sure what number we're on. <br />47 <br />48 Michael Harvey: For applicants exhibits we're Applicant 2. <br />49 <br />OC Board of Adjustment — 12/12/16 Page 94 of 156 <br />