1. REPP

2. All Sites Reviewed 10 MW+, 1998-2001 Project LocationCapacity (MW) Riverside County, California190 Kern County, California224 Logan County, Colorado30 Weld County, CO & Laramie County, WI16 Buena Vista County, Iowa193 Cerro Gordo County, Iowa42 Worth County, Iowa80 Gray County, Kansas112 Lincoln County, Minnesota262 Pipestone County, Minnesota10 Madison County, New York42 Gilliam County, Oregon25 Umatilla County, Oregon109 Wasco County, Oregon24

3. REPP All Sites Reviewed Continued Project LocationCapacity (MW) Fayette County, Pennsylvania15 Somerset County, Pennsylvania10 Culberson County, Texas30 Howard County, Texas28 Upton County, Texas350 Pecos County, Texas402 Taylor County, Texas150 Carson County, Texas80 Walla Walla County, Washington180 Iowa County, Wisconsin30 Kewaunee County, Wisconsin11 Carbon County, Wyoming133 Bennington County, Vermont6

4. REPP View Shed and Comparable View Shed defined as properties within a 5 mile radius of wind farm Comparable community selected through a)Assessor Interviews b)Demographic Data from U.S. Census

5. REPP Sales Data Used for Analysis

6. REPP Property Sale Price by Sale Date Sample: Buena Vista, Iowa 1996-2002

7. REPP Property Sale Price by Sale Month Sample: Buena Vista, Iowa 1996-2002

8. REPP Property Sale Price: 6-Month Trailing Average Sample: Buena Vista, Iowa 1996-2002

9. REPP Simple Linear Regression on Sale Price Sample: Buena Vista, Iowa 1996-2002

10. REPP 3 Case Studies Case I View Shed vs. Comparable—All Years Case II View Shed Only—Before vs. After On-Line Date Case III View Shed vs. Comparable—After On-Line Date

11. REPP Regression Results Case I Summary

12. REPP Regression Results Case I Summary (continued)

13. REPP Three Cases Summarized Case I—In 8 out of 10 cases, view shed property values grew faster than the comparable. Case II—In 9 out of 10 cases, view shed property values grew faster after the on-line date. Case III—In 9 out of 10 cases, view shed property values grew faster after the online date than the comparable.

14. REPP Sample Site Report Buena Vista County, Iowa 750 kW Zond wind turbines 1.5 miles east of Alta, Iowa Source: NREL--PIX number 11513. Credit: Waverly Light and Power

15. REPP Buena Vista, Iowa Project Location

16. REPP Comparable Selection Buena Vista County, Iowa Demographics from U.S. Census 1990, 2000 Buena Vista County Assessor Interviews Spencer City and adjacent townships in Clay County (to the north) as used comparable to Storm Lake area. Comparable has higher property values due to proximity to recreational lakes. However, the two areas’ property values have risen at similar rates. Similar predominate business mix, productive value of Clay County land may be slightly higher.

17. REPP Comparable Selection: Demographics Buena Vista County, Iowa

18. REPP Regression Results Buena Vista County, Iowa, 1996-2002

19. REPP Additional Details Buena Vista County, Iowa According to the Buena Vista County Assessor 100 percent of Alta City properties have views of turbines 75 percent of Nokomis Township properties have views of turbines 5-10 percent of Storm Lake City properties have views of turbines All waterfront properties on the southeast side of Storm Lake can see turbines when looking northwest Two cases analyzed a) Viewshed without Storm Lake City b) Viewshed with Storm Lake City Storm Lake City has a population of approximately 10,000, while Nokomis Township and Alta City have a combined population of approximately 2,000

20. REPP Summary Statistics do not support claim of negative property value impacts from wind farms. Property database is complete through 2002. But, to maintain credibility database should a) be continually updated, and b) additional analysis performed.

21. REPP Contact Information Hardcopies of “The Effect of Wind Development on Local Property Values” are available from REPP for a nominal fee. A pdf version can be downloaded for free from the REPP website For more information see www.repp.org/wind