FERC: pipelines do not affect property values

Federal regulators who delved into complaints that the proposed Constitution Pipeline would lower property values for parcels near the route say they could find "no consistent information" to support that claim.

The controversial 124.4 mile project would cross hundreds of parcels in Delaware, Schoharie, Chenango and Broome counties in New York.

"In consideration of the numerous variables that can affect property value, we conclude that there is not sufficient evidence to demonstrate that the Constitution pipeline would result in decreased property values," the Federal Energy Regulatory Commission said in the final environmental impact statement issued on the project.

The 461-page report, which was released last Friday, also said no evidence was found that the presence of interstate natural gas pipelines in Pennsylvania or New York have led to the lowering of the values of nearby properties. The panel of federal regulators is expected to issue a decision on whether to permit construction of the project by mid January.

FERC said the real estate market impact of a nearby pipeline differs substantially from having gas drilling nearby.

FERC also said it is "unlikely" that the installation of an underground pipeline would have any impact on mortgage rates or make it more difficult for a prospective buyer to obtain a mortgage on a parcel close to the natural gas infrastructure.

Edited from various sources by Elizabeth Corner

Sources: Bakken.com, The Daily Star

Read the article online at: https://www.worldpipelines.com/regulations-and-standards/30102014/ferc-pipelines-do-not-affect-property-values/