Chesapeake padsite near ATT Cowboy Stadium lost $12 million taxable value over 5 yr period on 6.7 acres prime land

UPDATE

Screen shot 2015-10-21 at 8.30.02 AM

P&Z lead, Victor Vandergriff, said at the 4/21/10 hearing that he wasn’t in support of the Truman Drillsite near the Entertainment District citing that this industrial activity would further condemn the future prospects for that area with the history of the now undesirable car lots.

Screen shot 2015-10-21 at 8.39.41 AM

Vandergriff had insight….

In 2009 the area before Chesapeake was to drill averaged $17.31 sq ft

In 2010 the 5 acre parcel which the drill site sits on went to $16 sq ft

In 2011 it went to $ 5 sq ft

In 2012 it went to .23 cents

In 2013-2015 is is back to just $5 sq ft

The 1.5 acre frontage parcel next to Collins St has been valued at around the $18 sq ft market value rate for other Collins frontages but has been UNSUCCESSFULLY on the “for sale” market for the last 5 years now.

YEP Victor was right.

END 2015 UPDATE


When you think of the land that borders the Downtown Arlington area to the Entertainment District, that IS prime land contrary to what the mayor said about that land when Chesapeake wanted to frack it.

The mayor’s joke about not worrying about the stadium cracking from fracking came back to haunt him recently. So in addition to frackquake worrying, think about the 55-60 pad sites around town suffering tax devaluations near or on our Arlington drill sites.

As a number cruncher and to be fair in my reporting, one must look at the land’s mineral sub valuations to be able to net the gains or losses from our tax rolls.

As an Urban Drilling town, we hope the mineral valuations last because the surface land value is permanently tainted.

We will never be able to un-drill that well, erase it’s stigma, or build anything over it.

The bigger picture is hoping the substrata isn’t polluted which could eventually affect our drinking water.

Using this link….http://www.tad.org/datasearch/reentry.cfm  you can see surface valuations as follows…Just type in each Tarrant County Appraisal District account number of the Chesapeake drill site which is about 2,500 feet from the ATT Cowboys Stadium. They call it the Truman drill site…

Lot A is 1.5 acres acct #03156168  312 N Collins St.

Lot B is 5.2 acres acct #41507045  310 N Collins St.


#03156168     +   #41507045    =  total value of 6.7 acres

2009    $5 million    +       n/a             =   $5 million   (Lot 57R1A & B)

2010  $1.2 million   +   $3.6 million    =   $4.8 million (loss of $.2 million from 2009)

2011  $1.2 million   +   $1.1 million    =   $2.3 million (loss of $2.7 million from 2009)

2012  $1.2 million   +   $51.7K           =   $1.3 million ( loss of $3.7 million from 2009)

2013  $1.2 million   +   $1.1 million    =   $2.3 million ( loss of $2.7 million from 2009)

2014  $1.2 million   +   $1.1 million    =   $2.3 million ( loss of $2.7 million from 2009)

Had those properties retained their $5 million dollar value over the last five years, we would have had ad valorem taxes paid off of $30 million, but instead only aggregated $18 million, a difference of $12 million.

Screen shot 2014-09-10 at 12.54.44 PM Screen shot 2014-09-10 at 12.54.39 PMScreen shot 2014-09-10 at 12.55.06 PM Screen shot 2014-09-10 at 12.54.55 PM

So we may never know what the net effect tax devaluation is because I asked for the minerals valuations we collect taxes from and…..no record found was their response….
—– Forwarded Message —–
From: City of Arlington – Open Records <ArlingtonTX@mycusthelp.net>
To: kimfeil@sbcglobal.net
Sent: Tuesday, September 16, 2014 12:56 PM
Subject: Open Records Request :: W017173-091514

9/16/2014

Feil Kim

RE: Public Records Request for 310 and 312 N. Collins street property Community Development and Planning (CD&P) records

Dear Feil Kim,

Your public information request to the City of Arlington, received 9/15/2014, has been referred to me for response.

We have searched our records and have been unable to locate any records maintained by the City responsive to your request for Real Estate division/Community Development and Planning department records pertaining to the above addressed properties.

Please feel free to contact me if you have any questions regarding this matter.

Sincerely,

Jyl Miller*
Community Development and Planning


So I couldn’t find the Truman TAD record, but I grabbed this one out of the air and feel it could be representative of the Truman site… O U CH !

Screen shot 2014-09-17 at 6.52.22 AM

oh wait….I found the Truman minerals valuation data….the history is erased I bet since ownership changed hands.

Screen shot 2014-09-17 at 7.13.43 AM Screen shot 2014-09-17 at 7.14.03 AM

On an email sent to our city Real Estate Manager, dated Dec 16 2013 requesting sub-valuations, I never heard back…

Screen shot 2014-09-10 at 1.26.48 PM

So here is my follow up
— Forwarded Message —–
From: kim feil <kimfeil@sbcglobal.net>
To: Roger Venables <roger.venables@arlingtontx.gov>
Sent: Wednesday, September 10, 2014 1:27 PM
Subject: What is net effect on TAD tax valuations for Chesapeake surface vs mineral?
Roger, in the past I have asked for gaswell devaluations near drilling reports for Arlington and hope by now you have ordered these? In fairness to understand the current net effect, we need to know what the mineral tax valuations offsets are (state code G1). Certainly the income on minerals valuations will be short lived due to the hyperbolic decline curve in gas production with these horizontal laterals.
Please let me know so I can request a copy and update my blog post on this.
The lady from the drill site in Ft Worth that spewed twice in a month (with the last time trappng her in her home during an ice storm) wrote me in response to a press release (see below)….Janice wrote: “I went to the Tarrant County Appraisal District and requested a hearing to get the property taxes on my house lowered because of the location across the street from a gas well and got a letter the next week stating that my taxes have been lowered (13% or $9,000) without the hearing.”
I noticed that her Ederville Chesapeake drill site property (TAD# 051315832 state code J2) near her, lost almost 97% ($320,000) in taxable value. Property that used to be worth $2.55 sq ft is now worth .07 cents per sq ft.
Also Chesapeake’s eight parcels of land behind the homes adjacent to the padsite were also reduced in total by $96,000 and are valued at a whopping .07 cents per sq ft.
Chesapeake’s damage to surface property values for this Ederville site is over $415,000.  This does not include the recent environmental damages to actual soil when gas and produced fluids was spraying all around.
 
Is there a plan for our appraisal team (Pritchard & Abbott) to jack Chesapeake’s valuations back up when the wells peter out so we get needed tax dollars for our budget? I bet Chesapeake ends up having another firesale…hope not literally though, but with each passing year as the infrastructures age, the fire risks do go up especially when they weld on those storage tanks that belch out invisible hydrocarbons 24/7.
This devaluation isn’t fair to the adjacent property south of the drill site where they are paying a commercial market price of $1.20 sq ft.
A couple years ago before the Fulson padsite gas well spewed at Sublett and 360, Jane Lynn told me of her success in complaining by phone and getting an immediate tax reduction on her property too. I studied both the Fulson site and my Truman/Cowboys Stadium drill site TAD records and found similar losses as described above. I understand that they are having trouble selling or developing that land adjacent to the Fulson site; that “was” a prime location.
Here are the press releases from not one, but two Dallas bloggers regarding my 31% home devaluation near fracking.
My $story$ is circulating…maybe this should get people actively protesting the value of their homes near drill sites especially since those royalty checks aren’t that impressive.
Oh and lets not forget that Chesapeake/DFW Midstream got a 25% reduction near Bowie Highschool….I emailed Texas Instruments to remind them of this “cash on the table/protest opportunity” for their property.
 
Ask and you shall receive….follow the  money….it rule$.
 
—– Forwarded Message —–
From: Facebook <update+zzvf1vfz@facebookmail.com>
To: Kim Triolo Feil <kimfeil@sbcglobal.net>
Sent: Monday, December 16, 2013 10:15 AM
Subject: Janice Colston commented on a link you shared.
facebook
Janice Colston commented on a link you shared.
Janice wrote: “I went to the Tarrant County Appraisal District and requested a hearing to get the property taxes on my house lowered because of the location across the street from a gas well and got a letter the next week stating that my taxes have been lowered without the hearing.”
—– Forwarded Message —–
From: Roger Venables <Roger.Venables@arlingtontx.gov>
To: kim feil <kimfeil@sbcglobal.net>
Sent: Tuesday, August 21, 2012 9:05 AM
Subject: RE: Multitasking- How drilling affects valuations

Kim:

The only market value study the City commissioned was in 2010.  Integra Realty Resources conducted the study titled “Arlington Well Site Impact Study”.  Refer to this title in your open records request.  I don’t have information on pipeline condemnations affecting single family homes.  As for choking back wells, we do not have information on specific wells.

 

Thanks

Roger

 

Roger Venables

Assistant Director

Community Development & Planning | City of Arlington

Mail Stop 01-0241 | 101 W. Abram Street | Arlington, Tx 76010

817-459-6613 | Fax: 817-459-6669

http://www.arlingtontx.gov/planning/index.html

 

From: kim feil [mailto:kimfeil@sbcglobal.net]
Sent: Tuesday, August 21, 2012 7:14 AM
To: Roger Venables
Subject: Multitasking- How drilling affects valuations

Roger, I’m working on a project to see how many homes for sale in Arlington are near drill sites…I never intended to do this study, I was looking to see where else I could live in Arlington that was not within a mile of gas wells and am finding vey few homes…

1) what reports have your dept. recently worked on in regards to this topic? I want to request this from open records but need to know how to word this request.

2) how many homes in Arlington have been affected in value by pipeline condemnation?

3) I am still waiting to see who is choking back which wells…. this information should be available….what do I get this information?


Kim Feil


But its not just Chesapeake losing value…Carrrizo (who sold to second tier driller Enervest) sites are too.

Enervest owns the 6.6 acre lot to the north of the Perr drill site at Cooper and California (behind the Racetrac-yep 400 feet from the gasoline pumps) with the old empty night club valued at $2.76 sq ft that has followed the market increase rate (+15% from 2011 figures at $2.40). The actual padsite of 6.3 acres lost 36% of its 2012 value and is now at $1.75 sq ft.

Similarly the Chesapeake padsite adjacent to the Perr site at 2913 S Cooper has 8.3 acres commercial vacant at $1.70 sq ft.

Contrast that to the frontage property on Cooper street at the Race Trac gasoline station that sits on 1.4 acres that has a whopper value of $24 sq ft.

Across from the Rac Trac, (2904 S Cooper), the Avis shop has less than three quarters of an acre at $12 sq ft.

Nearby at 2805 Cooper, the tiny parcel (.2 acre) Espita Cleaning Service at is at $17 sq ft, & the Graham Station (across from the drill site) has 2.7 acres at $6 sq ft.

At 2915 S Cooper, the AG Realty owner has 4 acres at  $3 sq ft and sits between both drill sites.

The Chesapeake padsite near Green Oaks/Cooper (TAD 41588940) and near our municipal air port (TAD# 41583590), both are  AT SEVEN CENTS a sq ft.

Who else is at SEVEN CENTS a sq ft? …The Fulson site at Sublett and 360…

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About Kim Triolo Feil

Since TX Statute 253.005 forbids drilling in heavily settled municipalities, I unsuccessfully ran for City Council Seat to try to enforce this. Since Urban Drilling, our drinking water has almost tripled for TTHM's. Before moving to Arlington in 1990, I lived in Norco’s “cancer alley”, a refinery town. It was only after Urban Drilling in Arlington did I start having health effects. After our drill site was established closest to my home, the chronic nosebleeds started. I know there are more canaries here in Arlington having reactions to our industrialized airshed (we have 55-60 padsites of gas wells). Come forward and report to me those having health issues especially if you live to the north/northwest of a drill site so I can map your health effects on this blog. My youtube account is KimFeilGood. FAIR USE NOTICE: THIS SITE MAY CONTAIN COPYRIGHTED MATERIAL THE USE OF WHICH HAS NOT ALWAYS BEEN SPECIFICALLY AUTHORIZED BY THE COPYRIGHT OWNER. MATERIAL FROM DIVERSE AND SOMETIMES TEMPORARY SOURCES IS BEING MADE AVAILABLE IN A PERMANENT UNIFIED MANNER, AS PART OF AN EFFORT TO ADVANCE UNDERSTANDING OF THE SOCIAL JUSTICE ISSUES ASSOCIATED WITH EMINENT DOMAIN AND THE PRIVATIZATION OF PUBLIC INFRASTRUCTURE (AMONG OTHER THINGS). IT IS BELIEVED THAT THIS IS A 'FAIR USE' OF THE INFORMATION AS ALLOWED UNDER SECTION 107 OF THE US COPYRIGHT LAW. IN ACCORDANCE WITH TITLE 17 USC SECTION 107, THE SITE IS MAINTAINED WITHOUT PROFIT FOR THOSE WHO ACCESS IT FOR RESEARCH AND EDUCATIONAL PURPOSES. FOR MORE INFORMATION, SEE: HTTP://WWW.LAW.CORNELL.EDU/ TO USE MATERIAL REPRODUCED ON THIS SITE FOR PURPOSES THAT GO BEYOND 'FAIR USE', PERMISSION IS REQUIRED FROM THE COPYRIGHT OWNER INDICATED WITH A NAME AND INTERNET LINK AT THE END OF EACH ITEM. (NOTE: THE TEXT OF THIS NOTICE WAS ALSO LIFTED FROM CORRIDORNEWS.BLOGSPOT.COM)
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