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116 Time, Place, and Manner Regulation of Business Activity <br />S�v ral respondents indicated that "pride of ownership" has an <br />imi�jrtant influence on property values. When families are encouraged <br />to leave a residential area or discouraged from locating in a <br />pactic:ular area due to the existence of an adult business nearby, a <br />transition from a family-oriented, owner -occupied neighborhood to a <br />more transient, renter -occupied neiyhborhood may result. This trend <br />is reinforced by the reluctance of real estate lenders to make -90 to <br />951 financing available for residential properties in the area. <br />With regard to the effect on .commercial properties, respondents <br />comnented that commercial property values were negatively impacted but <br />to a lesser degree than residential properties. It was also noted <br />that the impact of a single adult entertainment business.would be less <br />severe than the impact resulting from a concentration of businesses. <br />Other comments indicated a negative impact on the sales of businesses <br />engaged in neighborhood trade. One respondent commented that adult <br />entertainment businesses tend to drive out residential or commercial <br />uses. <br />Those respondents who indicated little or no change in property values <br />cited several reasons for their opinions. Several commented that <br />adult businesses locate in areas where property values are already in <br />decline. One comment noted that commercial properties would <br />experience very little effect because most commercial properties are <br />encumbered by long tern leases. Another respondent stated that there <br />is no market evidence that values will change. <br />In summary, most appraisers and lenders.believe that adult businesses <br />will contribute to a decrease in surrounding property values,, <br />particularly residential properties within a one block radius. The <br />appraisers opinions will affect property values because their lending <br />and appraisal policies will, to some extent, determine property value. <br />C. TRADE AREA CFi11RACTERISTICS <br />The use of zoning authority to regulate the locations of adult <br />businesses implies that these businesses will be limited to certain <br />zoning districts. In order _to make appropriate recommendations for <br />assignment of these businesses to specific zoning districts, an <br />understanding of their trade area characteristics is important. _ <br />Specifically, it is useful to know if a substantial portion of the <br />adult businesses clientele is drawn from the immediate neighborhood or � <br />C <br />from a larger regional area. <br />Methodology <br />e <br />In order to establish the extent of an adult business trade area, a <br />method of determining the location of customer residences must be <br />employed. The method selected for this evaluation was the observation _ <br />of vehicle license numbers. It was assumed that addresses listed on <br />the vehicle registration reflected the location of the customers <br />residence. <br />EVER00298 <br />