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Property near wind project denied bank line of credit

This residential property located near the Melancthon I and II wind energy facilities (2 hours NW of Toronto) was denied a bank line of credit due to the health risks caused by proximity to the transformer substations.

Paul Thompson's front porch is located just 388.82 meters from the two Trans Alta transformer substations that service the Melancthon I and II wind energy facilities (133 industrial turbines). The constant hum emanating from the substations are audible from both outside and inside his dwelling even with the windows closed. The noise has required he move out of his house at night and rent other accommodations. 

In 2011, Mr. Thompson contacted his bank about using his home as collateral for a line of credit to support the lawsuit against the siting of the Trans Alta substation. The bank denied his request based on the appraisal which found that his property was a high risk and its future marketability potentially jeopardized.

The letter accompanying the bank's appraisal report is provided below. Both the letter and the appraisal report can be accessed by clicking on the links at the bottom of this page.

Dear Paul:

It is with regret that I must advise that we are unable to put a second credit line on your property. The property was appraised and based on the report and the health concerns mentioned therein, the report is hypothetical in nature and the health risks caused by the hydro station located close to your home, we find your property a high risk and its future marketability may be jeopardized.

Please rest assured that you are a high value client with RBC and your credit with us has never been an issue, however, the property at this time has caused some concerns.

Please feel free to contact me at 519-943-0012 if you require further clarification.

Regards,


Ms. Belinda S. Reid
RBC Mortgage Specialist

Windaction.org wishes to thank Mr. Thompson for granting us permission to share these documents with our readers.

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Royal Credit Line Declined Letter

Download file (15.9 KB) pdf

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Paul D Thompson Royal Bank Appraisal

Download file (1.42 MB) pdf

AUG 18 2011
http://www.windaction.org/posts/36163-property-near-wind-project-denied-bank-line-of-credit
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