There has been a lot of talk about the Property Value Guarantee Agreement from FPL Energy Illinois Wind, LLC ( referenced simply as FPL further in this discussion). This agreement applies to property that is within 3/4 of a mile of the base of any wind tower that is part of the Wind Energy Center in DeKalb County (Ordinance No, 2009-05). No more talk, just the plain truthful facts. It’s time to set the record straight and show what the document actually states.
First, here is the “Property Value Guarantee Agreement” as it was signed off by Dean Gosselin, Vice President of FPL on 11/03/09. The property owners names have been removed for privacy. Next, we have the presentation of Ruth Anne Tobias, DeKalb County Board Chair. The presentation and the Q&A session for the Siting, Zoning & Taxing Wind Farms in Illinois Conference was held 2/24/2010, in Peoria, IL. The video and slides are available for your review.
Video: 2/24/2010 Property Value Guarantees Panel:
Ruth Anne Tobias – Presentation/Q&A
Video: 2/24/2010 Property Value Guarantees Panel:
Ruth Anne Tobias & others – Q&A
So, what are we to believe? Let’s take a look at what Tobias has to say.
According to the NortherStar interview on 1/29/10 by Demarcus Robinson:
“DeKalb County negotiated a property value guarantee within 1.5 to .75 of a mile to a turbine,” Tobias said.
Let’s refer to Tobias’ presentation on 2/24/2010.
Take a look at Slide 2 on Page 134:
” Homeowners within 3/4 mile of a turbine ”
” lower price than expected in 3 mos – FPL pays difference… ”
Take a look at Page 137:
” http://dekalbcounty.org/PLanning/windfarm.html ”
” Look for ‘Ordinance’ with conditions (#14) and PVG details within ‘Exhibit D’ ”
Compare the information Tobias presents against the actual document, and you now have a different story. Follow Tobias’ link to the document and you end up looking at a map, not PVG details. So you will need to look at an authentic “Property Value Guarantee Agreement” document.
In this document there is no mention of mos, it’s all in days, either 30 or 180. 30 days regarding notification and 180 days in relation to the property. Here are the facts:
Section 7: “that the Property will be so listed until the occurrence of either the (i) sale of the Property or (ii) expiration of a period of 180 days;”
Section 8: “for a period of 180 days, not to accept any offer below the ASKING PRICE without the express and written approval of the Guarantor.”
Section 10: “within 180 days of listing the Property for sale,”
Section 11.b: “after 180 days of listing the Property for sale,”
Section 12: “during the 180 days of the property being on the market,”
This kind of gross error is inexcusable. How could Tobias, DeKalb County Board Chair and noted conference speaker be so irresponsible and misleading? It makes you wonder if she ever looked at the document and seriously question anything else she has to say.
