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UTILITY EASEMENTS AND SUBDIVISIONS

UTILITY EASEMENTS AND SUBDIVISIONS. Prepared for Rapid Fire Case Studies October 31, 2012 Present by Donald A. Fisher, MAI. Survey Question: Do Pipelines and Powerlines have significant affects on adjacent residential properties?.

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UTILITY EASEMENTS AND SUBDIVISIONS

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  1. UTILITY EASEMENTS AND SUBDIVISIONS Prepared for Rapid Fire Case Studies October 31, 2012 Present by Donald A. Fisher, MAI

  2. Survey Question: Do Pipelines and Powerlines have significant affects on adjacent residential properties?

  3. Powerline and Pipeline East of Pinnacle Road along Blackwell Lane & Wickwine Lane, Henrietta Powerline and Pipeline East of Pinnacle Road along Blackwell Lane & Wickwine Lane, Henrietta

  4. What do you think is the impact of the Powerline on adjacent homes?

  5. Negative Factors

  6. Positive Factors

  7. South Side = $65 per SF average assessment North Side = $69 per SF average assessment +6% increase of average assessments from adjacent residences to houses one lot away from the powerline

  8. Reverse of Golf Course EffectUse as Support for Negative adjustment to residential properties adjacent to Powerlines

  9. Residential Lot & Existing Pipeline Easement

  10. Total Lot Area = 4.200 Ac. Existing Gas Line Easements = 0.259 Ac. Crosses Lot in Front of House Original Fee Simple Area = 3.941 Ac. Assignment: Value Loss from Removal of Trees for New Pipeline

  11. Does Removal of 25% of Trees on Lot Affect Value?

  12. Survey of Residential Lots • < 5% Tree-Covered • > 5% & < 50% Tree-Covered • >50% Tree-Covered

  13. Reasons for Heavier-Treed Lots to Have Lower Values

  14. Reasons for Heavier-Treed Lots to Have Lower Values • Reduced Views • More Open • Better Lighting • Fewer Leaves • Less Isolated

  15. Heavily-Treed Lots (Before Value) Showed A Value That Was $15,000 Less Than Partly-Treed Lots (After Value)

  16. Before Value of Lot = $225,000 • After Value of Lot = $240,000 • Damages to Lot Due to Removal of Trees • = - $15,000

  17. Open Space / Farmland With Existing Pipeline & Powerline & New Pipeline

  18. Highest and Best Use – Before Appraisal EU 1 – Residential Development Land (70 Ac.) EU 2 – Residential Development Land (9 Ac.) EU 3 – Livestock Farm (15.10 Ac.) EU 4 – Residential Development Land (23 Ac.)

  19. Damages • Direct Damages (Land) = $51,000 • Indirect Damages = $0 • Temp. Esmt. – Construction = $7,000 • Temp. Esmt. – Access = $10,500 • Cost-to-Cure (Fencing) = $20,000 • Total Damages = $88,500

  20. Alternative Valuation (from Owner’s 2-pg appraisal) Estate Lots @ $250,000 each (Gross Sum; No Expenses or Discount) Damages Loss of 1 Lot @ $250,000 2 Lots 50% Damages @ $125,000 Each Total Damages = $500,000

  21. New Subdivision & Pipeline

  22. Damages • Direct Damages (Land) = $0 • Indirect Damages = $0 • Temp. Esmts. – Construction = $26,000 • Cost-to-Cure (Re-drafting plans) = $10,000 • Cost-to-Cure (Timber) = $5,000 (comment) • Total Damages = $41,000

  23. Survey Question: Do Pipelines and Powerlines have significant affects on adjacent residential properties?

  24. QUESTIONS?

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