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14-3 Property Values

In the May 17, 2016 Report, you have used somewhat similar, but different terms, including “the area of the proposed power plant,” “the general market area of the proposed power plant,” “approximate area,” and “surrounding residential properties.” P

RESPONSE 14-3:

The “area of the proposed power plant” is specifically used to describe the demographics included; in this instance, it is further defined on page 4 as being Burrillville township. Sometimes, information on demographics might be based on individual villages, or even on a 3-, 5- or 10-mile distance measurement from a specific location. 

We could not find a specific reference to “approximate area” but would be happy to clarify the statement further when it is pointed out. Admittedly any reference to “area” is somewhat amorphous. For example, in the Executive Summary, the first bullet point is discusses the creation of well-paid jobs “in the area,” while the third bullet point discusses the infrastructure “in the area of the proposed plant.” Any definition of the job market has very different, and likely larger parameters, than would a description of the proximity of infrastructure.

The term “surrounding residential properties” is used in the discussion of the scope of the assignment and in the discussion of the purpose of the assignment. The specific area this term describes is not defined, and changes from project to project. It is difficult to attempt to draw a specific lineal reference because there are many factors that influence whether or not an area should be included. Among these factors are: distance; intervening uses; line of sight (visibility); and prevailing winds (for odor issues and noise.)

RESPONDENT:

Mike Marous, MAI, CRE, MaRous & Company

DATE:      

August 18, 2016