As an upstate stakeholder, my primary concerns lie in the nature of our precious watershed communities and the impact that development would have on our property value. Development, such as that involved in building a water filtration plant or that necessary to carry out hydraulic fracking, inevitably comes with detrimental impacts to nature which results in declining property value. It is therefore essential that we prevent such plans from being further developed and ultimately executed. Due to the impacts development has on nature and the community, property values are in turn negatively impacted.
According to a study by Dr. Mark Broomfield for the “European Commission DG Environment,” the cumulative impacts of one type of development that is in question for upstate New York (fracking) have the potential of being detrimental. The “risk assessment” for fracking in Europe, as conducted by Broomfield, demonstrates the potential for negative impacts on the surrounding environment. Although a few of the impacts were only considered to be of “moderate” risk when measured in individual sites, the “high” level of noise and traffic that could accompany the type of development in question in NY can accumulate to “highly” impact such aspects of nature as biodiversity and water quality that were considered in Broomfield’s study (Broomfield). When discussing the noise pollution that accompanies development, for example, Broomfield addressed the continuous 24 hr/day nature of this type of development that could impact nearby environments. The negative effects of the excessive noise,traffic and pollution will extend to impact both our natural world as well as the surrounding property, the value of which is often dependent on the presence and quality of natural space.
Development’s impact on nature extends beyond impacting the immediate animals and wildlife that reside in the watershed communities where the development would hypothetically take place to directly impacting the value of the upstate property that is in question. Development such as that concerning fracking is particularly detrimental for homeowners in search of a mortgage loan,for example. If homeowners have given leases for this type of development, the future property value is in question since the lease remains, regardless of whom the house owner is. Freddie Mac’s manual, as cited by the “Tompkins County Council of Governments,” says that “surface or sub surface rights within 200 feet of a residential structure would not be acceptable for conventional financing in the secondary market,” illustrating the detrimental impact development has on nearby lying property.
Sources:
Broomfield, Mark. “Support to the Identification of Potential Risks for the Environment and Human Health Arising from Hydrocarbons Operations Involving Hydraulic Fracturing in Europe.” European Commission DG Environment 17 (2012): Web. 1 Dec. 2012.
501c (3) nonprofit advocating for the Catskills: “Catskill Mountainkeeper.” Catskill Mountainkeeper. N.p., n.d. Web. 01 Dec. 2012. <http://www.catskillmountainkeeper.org/our-programs/fracking/whats-wrong-with-fracking-2/mortgage-problems/>.
Retrieved from cornell.edu: Gas and Oil Leases Impact on Residential Lending, by Greg May, VP – Residential Mortgage Lending Tompkins Trust Company, March 24, 2011. Tompkins County Council of Governments.
