HomeMy WebLinkAboutAffidavit of Michael C Lady
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In re: Application of Martin Marietta
Docket No.
Affidavit of Michael C. Lady
Personally appear~d before the undersigned notary public, duly
authorized to administer oaths, Michael C. Lady~ who under oath, deposes and
states as follows:
1. My name is Michael C. Lady, and I am over the age of 21 years. I
have personal knowledge of the facts recited herein.
2. I prepared the property value analysis that is attached hereto and titled
"Neighborhood Analysis Kingswood Subdivision." This report reflects that
Kingswood homes have appreciated, and continue to appreciate in value. Their
selling prices are typical for competing subdivisions in the area and the Kingswood
selling price per square foot, in 2002, tied with the Woodfield subdivision.
Kingswood remained consistent with comparable subdivisions in the area for the
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other years studied.
3. I saw nothing in my investigation of Kings wood sales data, including
.resales, days on the market, sales price per square foot, and various other data, that
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would suggest that property values in it have been adversely affected by existing
Martin Marietta operations. It is my opinion that Martin Marietta's mining
operations, both south of 106th Street and north of 106th Street, have not adversely
affected property values in the neares~ subdivision.
4. I understand that the special use application at issue proposes to mine
sand and gravel on property located south of 106th street. The mining will be
accomplished through the use of loaders, excavators, and trucks. The activity
proposed is comparable to what is already conducted on Martin Marietta's property
south of l06th Street, although less intense because the proposed application
includes neither blasting nor processing. Likewise, the extraction proposed in the
application is less intensive and farther away than the extraction and processing
that has occurred at the Carmel Sand mine north of 106th Street, and adj acent to the
perimeter of the Kingswood subdivision.
5. Homes in River's Edge, which is adjacent to an active stone mining
operation, cunently sell for more than $400,000. For example, on or about June 8,
2004, a home at 4709 River Ridge Drive, which is in close proximity to Martin
. Marietta's North Indy Processing Plant, sold for $425,000, at $128.71 per square
foot.
6. MY' original report was prepared in January 2003 in anticipation of a
hearing during that year. I have reviewed transactions in Kingswood since then
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and nothing that I have seen changes my opinion. The opinion I expressed then
. . .
remams my opmlOn now.
Further affiant saith not.
M~;_l~ '
State of Indiana )
)8S.
County of1jl\JtlluON)
, 2004.
Notary Public,!1;fmILTC'~ County
Indiana
Commission expires: 11I1 ~ / :2.ee:/'i
,
UNDA L LANlER
NOTARY Pll'BUC STATE OF INDIANA
HAMILTON coUN1Y
MY COMMIS6IONEXP. NOV.15~