OREA’s Government Relations Committee recently heard presentations regarding wind turbines and their effect on real estate values.
The Government Relations Committee is taking the following actions:
1. The Committee will investigate the feasibility of doing research related to the impact wind turbines might have on property values.
2. The Committee is in the process of consulting with the OREA College as to whether or not OREA could develop a continuing education course to educate members on wind turbine related issues.
3. The Committee has asked the Standards Forms Committee to look at the feasibility of incorporating wind turbine related clauses directly into the Standard Form Agreement of Purchase and Sale.
4. OREA wrote the Minister of Energy and the Minister of the Environment and asked them to work with REALTORS® and municipal governments to mitigate any adverse effects these alternate energy projects may have.
Questions about these issues should go to Matthew Thornton, Assistant Director of Government Relations at 416.385.6624 or mthornton@orea.com.
Please provide any feedback from the Ministry.
This is of interest to us – we recently had client expressing interest on a lake Erie property listed for sale in an area designated for multi Wind Turbines.
The unknown factor is a potential Deal Breaker.
Thanks for your assistance.
Brian & Wendy Cook Royal LePage State Realty Stoney Creek.