I just dodged a financial bullet

editec

Mr. Forgot-it-All
Jun 5, 2008
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Maine
Denver Oil Concern Withdraws Its Plan for Big Tank in Maine

By KATHARINE Q. SEELYE
Published: April 2, 2013

A Denver oil company that had proposed building a 14-story liquid-propane storage tank on the Maine coast abruptly withdrew its application on Tuesday, bringing to a sudden halt a contentious battle that had raged for three years in the tiny town of Searsport and its environs.


Had this project been developed, the homeowners in this town and in surrounding towns, too, would have lost tens-of-millions of dollars (actually that might be rather a low estimate) in real estate values, plus the quality of life in these towns and the entire Penobscot Bay region would have been irrevocably changed for the worst.

I figure, based on how close this project was to me (.7 mile) my home's market value just RECOVERED about $75,000 it had lost when this project looked like it was going to happen.

And that's just what I would have lost in my personal net worth, too.

The entire town would have collectively lost MOST of its real estate value had this monstrosity been erected.

phew!
 
Had this project been developed, the homeowners in this town and in surrounding towns, too, would have lost tens-of-millions of dollars (actually that might be rather a low estimate) in real estate values, plus the quality of life in these towns and the entire Penobscot Bay region would have been irrevocably changed for the worst.

I figure, based on how close this project was to me (.7 mile) my home's market value just RECOVERED about $75,000 it had lost when this project looked like it was going to happen.

And that's just what I would have lost in my personal net worth, too.

The entire town would have collectively lost MOST of its real estate value had this monstrosity been erected.

phew!


How does a propane storage tank cause property values to drop in surrounding towns?
 

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