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and cui-rent land offers by looking only at land greater than 20 acres, and considering only sites listed as vacant or classified as “unimproved land.” We estimated land costs using a weighted average of historical transaction prices when available, supplemented with cui-rent asking prices. Table 24 sliows the range and number of observations for cui-rent asking prices as well as recent transactions on industrial land. CONE Area 1 EastemMAAC 2 Southwest MAAC 3 Rest ofRTO 4 Westein MAAC 5 Dominion County Current Asking Prices Recent Transactions Sou~emsidNotes Current Asking Prices from L.oopNet (2011) New Jersey Assessment Records (201 I). Maryland Assessment Records (201 I). Illinois Assessment Records (201I). Pennsylvania Assessment Records (201 I). Virginia Assessment Records (201 I). Table 24 Current and Historical Land Costs Middlesex, NJ Charles County, MD Will, IL, Northampton, PA Fauquier,VA $228-$306 2 $97-$2 17 4 $83-$189 4 $136 1 $11-$34 3 -- Range ($000/acre) $70-$236 $78-$217 $42-$217 $13-$209 $42-$335 Obsermtions (courit) 5 6 15 8 2 Range ($OOO/acre) Observations (cotrnt) Table 25 shows the resulting land prices we used for each CONE Area (calculated by taking a weighted average of the historical transactions and cui-rent offerings). We also include the acreage needed, based on recommendations from CH2M HILL, and report the final estimated cost for the land for each location. CONEArea 1 Eastein MAAC 2 Southwest MAAC 3 RestofRTO 4 Western MAAC 5 Doininion County Middlesex, NJ Charles County, MD Will,IL, Northampton, PA Fauquier, VA LandPrice ($/acre) E11 $129,000 $120,000 $80,000 $90,000 $118,000 Gas CT (acres) PI 30 30 30 30 30 Gas CC (acres) GasCT ($117) GasCC ($171) [SI $5.16 $4.80 $3.20 $3.60 $4.72 2. Emissions Reductions Credits Table 25 Gas CT and CC Land Costs As part of its NSR, a plant may be required to procure emissions reductions credits (ERCs) in areas that are in Maintenance or Nonattainment of the EPA’s National Ambient Air Quality Standards (NAAQS). ERCs represent permanent reductions in air quality pollutants that must be purchased to offset the emissions of new major sources. A new plant must obtain ERCs from nearby existing facilities that have created ERCs by permanently reducing their emissions output 22 Acreage c o s t ~3 1 ~41 40 $3.87 40 $3.60 40 $2.40 40 $2.70 40 $3.54PDF Image | THE APPLICATION OF KENTUCKY POWER
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