It has been well established that overhead power lines, such as those proposed by PSE for the Eastside, destroy individual residential property values by 10-30%. The destruction is not limited to homes next to the easement only, but occurs over a much larger area. Unless the PSE proposal is prevented by the authorities, home owners in a small city like Newcastle will permanently lose millions of dollars in property values.
Home equity makes up a big portion of a family’s investment portfolio. For many, it is the only savings they have. For retirees, home equity can be a big portion of the “nest egg”, and for many seniors reverse mortgages provide required financial security.
Thus, the overhead power line proposed by PSE will destroy the financial security for residents in Newcastle and in all other affected cities/communities. Reduced financial security results in less discretionary spending and fewer donations, which will negatively affect local businesses such as restaurants, health clubs, coffee shops, as well as charities.
Unless stopped, the negative economic impact of the overhead power line proposed by PSE will penetrate all levels of our community.
A. Roosme MS, MBA