2005/06/15 Council Agenda Packet

SUM'�4ARY OF FINDINGS The great majority of appraisers (75%) who responded Cc the national survey of certified real estate appraisers felt Chat an adult book- store located within one block would have a negative effect on the value of both residential (80;) and commercial {72%) properties. 50% of these respondents foresaw an immediate depreciation in excess of lob. At a distance of three blocks, the great majority of respondents felt that the impact was negligible on both residential (64%) and commercial (77%) properties. Even so, it would appear that this residual effect of such a use was greater for residential than for commercial premises. In answer to a survey question regarding the impact of an adult book- store on property values generally, 50% felt that there would be a subs can tial-to-mroderate negative impact, 30% saw little of no im- pact, and 20% saw the effect as being dependent on factors such as the predominant values (property and socia -1) existing in the neigh- borhood, the development standards imposed on the use, and the abil- ity of an existing commercial node to buffer the impact from other uses. The results of the 20% national sample and the 100$ survey of Metro - poli tan Statistical Areas were virtually identical. The one signi- ficanc variation that did occur was in the response to the question asked as to the effect of adult bookstores on property values gener- ally. Respondents in the htSA survey placed more emphasis (32% versus 20%) on conditional factors at the site. 5 1 EVER00063