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Ms. Sangeeta Kurupillai <br />Apri129, 1997 <br />Page 5 <br />And impacting the neazby residential neighborhoods. When concentrated, SOBs typically <br />compete with one another for customers tluough lazger, more visible signs, and graphic <br />advertising. They tend to be a magnet for certain types of businesses such as pawn shops, gun <br />stores, liquor stores, check cashing storefronts and late-night restaurants. <br />Impacton Surrounding Properties <br />The highest and best use of nearby property becomes limited under the principle of conformiry <br />as few other tenants wish to be near the SOB-dominated area, Investors and lenders are <br />unwilling to invest in new improvements in these areas and the vacant land sits idle for years. <br />Single-family homes in the area frequently end up as rentals because the families move away <br />from the SOB-dominated azea and it becomes exceedingly difficult to sell such houses. <br />Attitudinal Impact <br />As the recent New York Ciry study siates: "The experience of urban planners and real estate <br />appraisers indicates that negative perceptions associated with an azea can lead to disinvestment <br />in residential neighborhoods and a tendency to shun shopping streets where unsavory activities <br />aze occurring, leading to economic decline.b The forces that influence rea! estate value are <br />described as follows: "The market value of real property reflects and is affected by the interplay <br />of basic forces that motivate the activities of human beings. These forces, which produce the <br />variables in real estate market values, may be considered in four major categories: social ideas <br />and standands (emphasis added), economic changes and adjustrnents, govemmental controls and <br />regulation, and physical or environmental changes."� The attitudinal data in the survey is thus <br />significant even in those instances where the current negative impacts of adult entertainment <br />establishments are difficult to measure.8 <br />6IBID, page vi <br />�The Appraisal of Real Property, seventh edition, by The American Institute of Real <br />Estate Appraiser, Page 3. <br />eAdult �n�ertainment Study, Department of City Planning, City ofNew York, 1994, <br />Page vi. <br />r 06/12/97 1530 TX-atX N0.5591 P. 6 <br />