The Town hereby exercises its right to opt out of the tax exemption provisions of Real Property Tax Law § 487 for large WECS, pursuant to the authority granted by paragraph 8 of that law.
The WEF owner/operator must provide the real estate property value assurance plan (REPVAP) to all nonparticipating landowners who: 1) own property within one mile, measured horizontally, from the project boundary, and 2) have not signed any mitigation waivers. This is a legally binding contract with the owner/operator and its successors and the landowners. Each one of these contracts must be submitted with the application. The elements of the real estate property value assurance plan are as follows:
A. Establishing the current value of the home. Three neutral real estate agents will be selected from a list of agents licensed in the State of New York and conducting business in the general project area. Each agent shall perform a comparative market analysis (CMA) of the property, in its current state, which will compare the property size and improvements to no less than three similar properties that are listed for sale, using generally accepted CMA methods. The two highest property valuations determined from each CMA will then be averaged to determine the "baseline" property value for REPVAP purposes only. The CMAs will be performed at the applicant's expense. The property owner hereby agrees to permit access to the property as required to perform the CMA inspection. Furthermore, the property owner hereby agrees to provide full disclosure of known defects of the property as may be required under New York State Law. The agents preparing the CMAs will provide a written copy of their report to both the property owner and the applicant. Both the applicant and the landowner reserve the right to reject CMA results only in the instance of a clear mistake by the agent.
B. Establishing the future value of the home if listed for sale. If at any time during the three-year period after a permit to erect the WEF, the property owner lists the property for sale with a realtor, then an updated comparative analysis will be prepared, again at the applicant's expense, using the same procedure outlined above. The updated CMA will explicitly take into account any changes in local market conditions for comparable properties unaffected by the wind project, as well as any improvements to the home and/or lot. In the event that the property has been listed for at least 12 months and sells for less than the market value determined by the updated CMA average, the applicant will pay the difference in value within 30 days after closing of the sale of the property. The twelve-month listing requirement may be waived by applicant if requested by the property owner at the applicant's sole discretion.
C. Other stipulations. The property owner hereby grants the applicant the right to purchase the property at the greater amount of the updated CMA average market value or the highest bona fide offer. In the event the property was offered for sale and did not sell or generate any acceptable bona fide offers within 12 months, the applicant will pay the difference in value between the updated CMA averaged market value and the highest bona fide offer, but only upon reasonable certification by the property owner's selling agent that the lack of an acceptable offer or sale was attributable solely to the close proximity of the property to the WEF, and not due to any other reason whatsoever including but not limited to market conditions or specific deficiencies related to the property that was otherwise assumed to be satisfactory. If the property does not sell within an eighteen-month period, the applicant will have to purchase the property at the updated CMA average market value.
D. Subject to the applicant's right to waive any or all these exclusions, the plan outlined herein does not cover a sale or transfer of the property under any of the following conditions:
(1) If the property owner does not have clear and marketable title.
(2) If the property has not been listed for sale for at least 12 months as a continuous period.
(3) If the property is gifted or assigned to another person.
(4) If the property is not listed for sale in accordance with Subsection
B at some point.
(5) If the property is not reasonably maintained in its current condition, reasonable wear and tear excepted.
E. Additional conditions.
(1) A property owner can participate voluntarily in this plan, under the terms and conditions established herein, but the benefit is not assignable to new or subsequent property owners. If the applicant sells or transfers ownership of the WEF, it must assign, transfer, pledge, or otherwise dispose of its obligations and interests under this agreement in a form acceptable to the contracting landowners, unless released in writing by contracting land owners. If no agreement can be reached, then the applicant shall, before sale of the WEF, place into an escrow account, in favor of the landowner(s), the full value of the property, to be accessed by the landowner(s) if no sale is finalized within the time allocated in Subsection
B.
(2) In the event any landowner experiences health problems directly attributable to the operation of the WEF, such that the home is rendered uninhabitable, and unsellable, the listing period will be waived, and the applicant will be responsible for all medical expenses incurred, including but not limited to doctor visits, hospital visits and stays, medical procedures, medication and cost of lodging away from the home, up until such time as the applicant purchases the affected property at its full value before the approval and operation of the WEF reduced the property's worth. It will be the responsibility of the applicant to prove that the health problems (which were not present before, and now are) are not attributable to the applicant.
This chapter shall supersede all Town local laws and other land use regulations and specifically New York Town Law § 131, § 133, § 266 and § 268 that are contrary and in conflict with the provisions of this chapter to the extent necessary to give this chapter full force and effect.