There are many appraisal considerations in a wind project that present unique challenges to the appraisal process. How do you calculate the value of a wind project? What components of a wind project are assessed?
In its U.S. Wind Industry First Quarter Market Report 2012, the American Wind Energy reported: There are currently at least 8,916 MW under construction across 31 states and Puerto Rico. This represents 57% more megawatts under construction than during the same time last year
According to this statistic, wind projects are rapidly increasing. In this webinar, experts will present information and answer your questions about the appraisal of wind projects.
You'll gain an understanding of:
- Wind projects and appraisal
- Methodology/siting considerations used in wind project appraisals and consulting assignments
- Enterprise evaluation
- Property taxation - the role of the tax credit
- Zoning standards - an appraiser’s role
- Cautionary case Studies
- Litigation – valuation of detrimental conditions
- Property Value Guarantees (PVG’s)
- Wind Project Value impacts – a literature review
- What’s ahead?
Date: October 10, 2012
Time: 10:00 am PT, 11:00 am MT, 12:00 pm CT, 1:00 pm ET
Duration: 2 hours
CE Credit: Appraisal Institute members who attend will receive 2 hours of Appraisal Institute continuing education credit. Completion certificates will not be sent. This is not approved for state continuing education credit.
Speakers:
P. Barton Delacy, MAI, SRA, FRICS joined CBRE in 2012 as Director of Valuation Consulting. Based in the firm’s downtown Chicago office, Mr. DeLacy specializes in special purpose properties or unique engagements involving energy, healthcare and infrastructure-related assets.
Prior to joining CBRE, Mr. DeLacy led Valuation Consulting at Cushman & Wakefield (“C&W”) as National Practice Leader from 2006 to 2012. He also led the Energy Group focusing on siting and valuation issues involving power generation and transmission. He joined the firm as Director, was promoted to Managing Director in 2006 then to Senior Managing Director in 2010.
Before joining C&W in 2004, Mr. DeLacy spent over 20 years as a partner or principal of fee appraisal and consulting firms based in Portland, Oregon. From 1998-2002 he led the real estate consulting practice in the Pacific Northwest for Arthur Andersen LLP.
Mr. DeLacy has appeared as an expert witness or prepared expert testimony in eminent domain proceedings; property damages cases, bankruptcy hearings, land use hearings and property tax appeals. He has analyzed rural land use impacts and performed valuations for siting energy facilities including wind turbine “farms” and power generating plants.
Mike McCann, CRA has been exclusively engaged in the real estate appraisal profession since 1980, and is the owner of Chicago based McCann Appraisal, LLC.
His appraisal experience has included market value appraisals in 20+ states of virtually all types of commercial, office, residential, retail, industrial and vacant property, along with a wide variety of unique or special purpose real estate, such as limestone quarries, hotels, contaminated properties, etc. Appraisals have been prepared for purposes including condemnation, litigation, purchase, sale, estate planning, fractional interest valuation, leasehold and leased fee analysis, financing, divorce, damages and construction defects, easements, highway extension and widening, foreclosure, and numerous other purposes.
Mr. McCann has been a speaker at seminars for the Appraisal Institute, the Illinois State Bar Association and Lorman Education Services on topics including the vacation of public right of ways (1986), Property Taxation in the New Millennium (2000), Zoning and Land Use in Illinois (2005,2006), and for community based organizations regarding Industrial Wind energy Project impacts in Illinois, Michigan, California, Massachusetts, etc. (2009 -2012)
Expert testimony has been given in deposition, trial and public hearings for assignments that include appraisals, studies and consultation regarding real estate located throughout the United States. He has qualified and testified as an expert witness in Federal Court and numerous State Circuit Courts, and has been certified as an expert on the Uniform Standards of Professional Appraisal Practice (USPAP) by the Cook County, Illinois Circuit Court.
Mr. McCann is a State Certified General Real Estate Appraiser in Illinois, and a designated CRA Member of the National Association of Review Appraisers & Mortgage Underwriters. He was elected in 2003 as a member of Lambda Alpha International on the basis of his expertise with evaluating property value impacts, and he served several years as a member of the Appraiser's Council of the Chicago Board of Realtors.
