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COMPOSITE REPORT-Page 8 Application No. CUP 1484 <br /> 6. Given evidence of an Indian mound and a burial ground in the area, operator should <br /> have an archeological survey conducted before issuance of the CUP. <br /> 7. There have been reports that this is the first of several mineral extraction proposals <br /> in the area, which could have a cumulative impact on environmental resources. <br /> G. Property Value Impact Analysis: The operator submitted technical studies and <br /> anecdotal evidence from other places in Dane County which suggest that mineral <br /> extraction operations have no discernible impact on property values. In addition, staff <br /> obtained further materials from our national association regarding such impacts, but <br /> these were more general in nature. Such materials suggested that new development can <br /> cause adjacent residential structures to drop in value because of additional noise, <br /> pollution, lights, and traffic congestion. Finally, property owners in the immediate <br /> vicinity of the subject site have reported discussions with realtors suggesting that <br /> potential sale prices of their properties would decrease with an adjacent gravel pit. <br /> Brief summaries of the professional studies submitted by the applicant are as follows: <br /> 1. Rabinski and Cam for Davidson Mineral Properties, 1987: This study compared <br /> assessed value changes of properties within 1/2 mile of two rock quarries in <br /> Georgia with assessed value changes of comparable properties several miles from <br /> those quarries. The quarries were in operation at both the start and end dates of the <br /> assessed value determinations. The study found no significant differences in <br /> changes in housing values over time between comparable houses in the two <br /> categories. The study was based on the assumption that laws and modern operating <br /> practices would minimize air pollution, noise pollution, vibrations, traffic hazards, <br /> and visual unattractiveness. If left uncontrolled and allowed to exert their negative <br /> influence, these factors would be incompatible with residential development. <br /> 2. Shlaes & Co.for Martin Marietta New Design Quarry, 1987: Completed for a <br /> quarry proposal, this study analyzed what impact current quarries in the same <br /> Maryland county had on property values of adjacent residential subdivisions. The <br /> study concluded that, based on sale prices,property values in subdivisions within <br /> 1/4 to 1/2 mile of existing operations were not negatively affected compared to <br /> other comparable subdivisions. The study also analyzed the impacts of quarries in <br /> three other places in the U.S. In two of these cases,the quarry was opened before <br /> adjacent housing was built. In the third, the quarry was separated from a historic <br /> residential neighborhood by a river. <br /> 3. Steel Appraisal for Vulcan Materials Company, 1996: This study analyzed sale <br /> prices of 370 homes in a southeastern Wisconsin city with a large stone quarry. <br /> The purpose was to address whether the quarry had a negative impact on the sale <br /> prices of homes near the quarry. The study concluded that"the current market <br /> data...does not show any measurable price differential between similar properties in <br /> the immediate proximity of the quarry area to those some distance away." <br /> H. Public Input: This proposal has generated a significant amount of public opposition <br /> from residents of neighboring properties and other citizens in the Verona area. Sixteen <br /> citizens spoke against the proposal at the March 24 public hearing. Also at the hearing, <br />