SEARSPORT, Maine — A consultant hired by the planning board to provide an independent economic analysis of the effect a 23-million gallon liquid propane tank would have on the town said property values could be diminished, depending on the proximity of homes to the tank.
Nancy Fannon of the firm Meyers, Harrison and Pia LLC said among industrial developments, oil and gas facilities have a significant, negative effect on property values.
At the same time, she said that since DCP Midstream’s tank is planned for an existing fuel tank “farm” of some 31 tanks, the effect could be understood as incremental.
“Adding incrementally to an already industrial zone has an incremental effect,” she told the board.
Fannon later acknowledged that since the DCP Midstream tank, at 110 feet in height and visible from U.S. Route 1, would be different in character from the other tanks. None of the other tanks are easily seen from Route 1.
She said homes at a distance of two miles from the tank would see no reduction in value, while those within half a mile would lose 8 percent of value.
Fannon explained that her analysis focused, as requested by the board, on the project’s effect on municipal services, property values, tourism and property taxes.
Most of her work drew from existing studies of industrial developments such as wind turbines, electric transmission lines, toxic waste sites and nuclear plants. Such developments brought environmental risks, noise, traffic, distorted scenic views and safety concerns.
She concluded the tank would have a minimal effect on municipal services, with just the police department incurring the hiring of two more officers at $85,000 for each in the first year and $55,000 for each in subsequent years.
“The town believes it will have only a modest increase in municipal services related to the project,” she said.
The tank’s effect on tourism would be similar to the effect on property values, Fannon said, again noting that the project “will not be alien to the landscape,” describing the setting as “an industrial backdrop.”
Property taxes now assessed at a mill rate of $19.80 could drop to $17.95 with the $50 million new facility, she said. But factoring in additional town spending and the reduction of property taxes would likely leave the mill rate at $18.61, she said.
Jamie Kilbreth, the attorney for DCP Midstream, argued that fuel tanks such as those in South Portland and the Wyman Station power plant on Cousins Island in Yarmouth have not diminished home values.
Ed Bearor, an attorney representing Albert “Buddy” Hall, owner of Angler’s Restaurant and Bait’s Motel, which abut the tank site, argued that the tank would be closer to his client’s businesses than to the other, existing tanks.
Fannon conceded after being questioned by Bearor that Hall’s property would sustain “significant” negative effect in value. An assessor’s review of Hall’s properties concluded that the businesses and real estate, now valued at about $897,000, would lose more than $748,000 in value if the tank is built.
Ya think?
Do a little research on the real estate transactions in Searsport in the past year or so. Ask any local realtor how many buyers have walked away once they learned of the tank proposal. Ask them off the record. A year ago many told me privately that it was a disaster for property values, but none would say so publicly. Now that Searsport has outed itself as a police state and free speech is being squelched, don’t expect anyone to speak truthfully in public.
I’ve said for two years now that the opponnets should stop scaring people with talk of explosions. The real issue is what it will do to property values in town and how few jobs this will provide. As people drive around and see these tank farms take note of the absence of workers. Once it’s built there is just no need for more than a couple of people being there. This could easily be a net loss for jobs and taxes in Searsport-there is no need to scare people about something blowing up. People should be scared about what it will do to their property values and the few tourists businesses that are there.
Energy infrastructure creates additional jobs and lively rigorous communities, able to weather economic down times…..What Tank farms have you seen that shows an absence of workers or business?
Hello Again Mr. Waldo,
Were you there last night for the whole hearing ( or any part of it)? Did you hear DCP confess that only one tanker had used its LPG terminal in Chesapeake in all the time DCP has owned it.
One tanker.
Quite a different picture than the bustling port activity of ships and trucks DCP has portrayed to legislators, to the town, to DEP to MDOT ( aren’t they proposing to invest $ millions in a dredging to accommodate this project?
1 tanker Mr. Waldo.
1 tanker and all this negative impact on the the businesses and owners who hold Searsport together and you still are advocating for this tank?
Yesterday I told you that the official EPA Risk Management report on the Chesapeake facility listed only 2 employees.
2 Employees….
Mr. Waldo..folk involved in this project have done their homework, done their research, dug for facts, shared all that.
East Main Street (U.S. 1) in Searsport is a dump, the best thing there is Hamilton Marine and the bus stop next door. It you were a guest at the Motel or eating at the Restaurant, all you see is trees, not the tank farm. Go on Google Earth, street view, and check it out for yourself. I dare say if you took a survey of tourists and asked them about the tank farm, the reply woulld be, “what tank farm?”
My personal opinion is that if I had a choice, I don’t think I would stay at a motel that reminds me of Anthony Perkins’ and Janet Leigh’s scariest movie!!! I would spend all night listening for the shrieking violins coming from the shower.
I guess the antique stores and other businesses as well as the residents should then just pack it in.
You are right, people would have to ask about the tank farm because they currently CANNOT SEE IT!!
No one is upset about the current tank farm.
The new tank will be quite visible. Only on Tuesday night did we see some images of the actual project as it would be seen in reality, not just blueprints.
After two years of waiting. And asking. Then DCP said that no one had ever asked for this before. What?
Even then the head of the Planning Board announced last night he wanted more images.
DCP does not want to show us the project as it will look to residents and passersby because it will be a lot different than what is currently here.
That is the point!
pidly you are correct again! Unfortunately neither the study or this article makes no mention as to how property values of the homes in the surrounding areas will be impacted…. such as Stockton Springs, Belfast, and Islesboro. I do not foresee the presence of the tank INCREASING property values anywhere in Searsport or any of the surrounding areas. The tank will CLEARLY have a NEGATIVE impact on ALL property values in those areas as well, and will not receive any of the tax benefits that Searsport homeowners will receive.
Two things…number one….there are many, many empty or abandoned homes in Searsport….pricers are already rock bottom (just like everywhere in Maine) so adding jobs will just increase the chances that these homes may be filled. It an absolute lie that people look to see if a ‘tank’..i.e. certain business is nearby as to whether they will move into an area. Sane people look at the Tank as a sign of a stable tax base…and that the Town Manager has common sense …..and that energy infrastructure creates jobs and creates lively Maine communities…..Number two….Mack Point is now at its capacity….no more room for business…Searsport is an example of how business and its citizens get together to create an economy……if it was left up to the ‘No Tankers’..Searsport would be a ghost town, with all its resources from road and seaport infrastructure, a ghost town…. I say Sears Island is up next….Study after study (40 years worth)…show the promise of this area for commercial and natural development…’No Tankers’ better stock up on your supply of mushrooms and your mailing lists from the environmentalists who ALL live somewhere else…Maine is in desperate need of solid businesses that create economies that keep small municipalities alive…turning away all business never produced a tax dollar
Mr Waldo..there are no jobs being added to the local economy..as I have posted from factual documents and DCP’s own public statements their facility in Chespaeake has had only 1 tanker dock there in all the time DCP has owned it and that facility employs only 2 people.
Moreover the witness of the planning board’s own hired consultant on economic impacts suggests there may actually be many more jobs lost than gained in the community( through more housing vanacies, negative impacts on tourism, lower support overall for the businesses and homeowners here already who create the level of jobs there now)
Come on Mr. Waldo..homework homework homework.
Just do the math, angler’s employs 35/40 local people in good paying jobs and dcp says,( well, honestly, they change numbers depending on the month it seems ) maybe 6-12. That leaves 30 people out of work in our local economy
Angler’s has been an icon in town for many years. It is a high quality establishment. The outstanding service and quality food (perhaps the best fried clams anywhere) attracts both locals and tourists. If the depreciation of Angler’s property value listed in the corrected version of this story is anywhere close to being right … it is an outrage. It is just a shame that the proponents of the tank are now turning their backs on this fine establishment that has been serving many of them for many years … just to add a few jobs. Plus the fact that DCP has not given any grantees that the few jobs created will go to any residents of Searsport.