2008-08-01_REVISION - M1980244

• Permit No: M1980244
• IBM Index Class Name: REVISION
• Doc Date: 8/1/2008
• Doc Name: Public Comment Letters
• From: CC & V
• To: DRMS
• Type & Sequence: AM9
• Email Name: BMK
• Media Type: D
• Archive: No

Goodrich, Gary
From: Carl Poch [[e-mail]]
Sent: Tuesday, July 01, 2008 6:03 AM
To: Newcomer, Larry; Goodrich, Gary; Comer, Timm; O'Connor, Peter; Patterson, Marie; Mannon,
Jane
Subject: Re: Home Value Impact Analysis
My home is 1550 feet from the blasting area - that's continuous!
"On the other hand, increasing the visibility of the mine to the people in Cripple Creek
is not expected to have much, if any, effect on housing prices unless the homes were
immediately contiguous to the mining activity."
The value of my home will decline by $80,000 (25%) which was what I requested for my
"silence" and what local management refused.
Carl Poch 611 E. Golden
PO Box 570
Cripple Creek, CO 80813
719 689-3179
--- On Mon, 6/30/08, Mannon, Jane <[e-mail]> wrote:
> From: Mannon, Jane <[e-mail]>
> Subject: Home Value Impact Analysis
> To: "Newcomer, Larry" <[e-mail]>, "Goodrich,
> Gary" <[e-mail]>, "Comer, Timm"
> <[e-mail]>, "O'Connor, Peter"
> <[e-mail]>, "Patterson, Marie"
> <[e-mail]>
> Date: Monday, June 30, 2008, 2:45 PM
> In response to comments received, CC&V contracted with Paul Rochette
> of David Bamberger Assoc. to review housing prices and determine if
> mining operations might impact values. The Executive Summary of that
> report is:
> Executive Summary
> This study was completed at the request of Cripple Creek & Victor Gold
> Mining Company (CC&V) in response to concerns on the impacts on
> existing home prices should the open pit operations of the Cripple
> Creek & Victor Gold Mining Company move closer and become more visible
> to the City of Cripple Creek as part of the Ming Life Extension (MLE)
> of the Cresson Project
> In Summary:
> -The study concludes that the overall impact from the MLE to the
> surrounding housing market will be negligible.
> -Closure of the Cresson Project (no MLE) will significantly negatively
> impact local housing prices due to loss of jobs and exodus of
> employees from CC&V.
> -The Wharf mine expansion in South Dakota was adjacent to and moved
> towards two non-mining housing subdivisions, with no impact to housing
> prices or rates of transactions.
> -The Homestake Mine closure in South Dakota in 1997 resulted in a
> downward adjustment in appraised values of 5% to 30% depending on age
> and condition of the property.
> -The Lake County Colorado total valuation of property in
> 1986 dropped
> 68% due to the Climax Mine closure.
> -The Robinson Mine closure in Ely, Nevada (1999-2001) resulted in a
> county-wide decrease of 25% in property values. Property values
> rebounded with the restart of the mine in 2005.
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