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19 <br /> <br />Mr. Eddie Bacon, out of Apex North Carolina, has inherited a sizeable amount of family and agricultural <br />land, and he has expressed interest in using a solar farm as a method of preserving the land for his children <br />and grandchildren while still deriving a useful income from the property. He believes that solar panels <br />would not in any way diminish the value for this adjoining land. <br />I spoke with Carolyn Craig, a Realtor in Kinston, North Carolina who is familiar with the Strata Solar Farms <br />in the area. She noted that a solar farm in the area would be positive: “A solar farm is color coordinated <br />and looks nice.” “A solar farm is better than a turkey farm,” which is allowed in that area. She would not <br />expect a solar farm will have any impact on adjoining home prices in the area. <br />Mr. Michael Edwards, a broker and developer in Raleigh, indicated that a passive solar farm would be a <br />great enhancement to adjoining property: “You never know what might be put on that land next door. <br />There is no noise with a solar farm like there is with a new subdivision.” <br />These are just excerpts I’ve noted in my conversations with different clients or other real estate participants <br />that provided other thoughts on the subject that seemed applicable. <br />VI. Conclusion <br /> <br />The matched pair analysis shows no impact in home values due to the adjacency to the solar farm as well <br />as no impact to adjacent vacant residential or agricultural land. The criteria for making downward <br />adjustments on property values such as appearance, noise, odor, and traffic all indicate that a solar farm is <br />a compatible use for rural/residential transition areas. <br />Similar solar farms have been approved adjoining agricultural uses, schools and residential developments. <br />Industrial uses rarely absorb negative impacts from adjoining uses. The adjoining residential uses to other <br />solar farms have included single family homes up to $260,000 on lots as small as 0.74 acres. The solar <br />farm at the Pickards Mountain Eco Institute adjoins a home that sold in January 2014 for $735,000 and in <br />proximity to lots being sold for $200,000 to $250,000 for homes over a million dollars. <br />Based on the data and analysis in this report, it is my professional opinion that the solar farm proposed at <br />the subject property will maintain or enhance the value of adjoining or abutting property and that the <br />proposed use is in harmony with the area in which it is located. <br />If you have any further questions please call me any time. <br /> <br />Sincerely, <br /> Richard C. Kirkland, Jr., MAI <br />State Certified General Appraiser <br /> 140