March 17, 2004
To Whom It May Concern:
I am writing this letter to express my recent professional experience in
regards to the local Coal Bed Methane Lease issue. Because of the leases
that were activated without public notice or input and the ensuing
controversy, the market for raw land, in my opinion, has been compromised.
I have personally experienced a solid buyer (an investor who had
purchased property through me in the past) who decided against several
purchases when she found out they were in an area where the subsurface
rights had been leased. I also have clients who purchased a property through
me last summer call me and express grave concern and alarm because they had
just found out that the property they had purchased off East End Road was
part of the lease. They had anticipated moving their young family to this
property to enjoy a quiet and rural lifestyle not available to them in
southern Massachusetts. They are now discussing changing their plans and
selling their property. However, the threat, now, of not being able to
resell and recoup their losses is very real, since more and more buyers are
refusing to purchase properties impacted by these leases.
In my opinion this was a VERY ill-advised decision made within the State
of Alaska bureaucracy and it is impacting me personally and my personal
ability to do business, as well as impacting property values and the ability
of owners to sell their property.
Thank you for your attention to this matter.
Sincerely,
Anne C. Whitney
Associate Broker
