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ACQUISITION “The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”

ACQUISITION “The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”. 5 BASIC STEPS TO ACQUISITION. NOTIFY property owner of intention to acquire property NOTIFY property owner & tenants of their “URA Protections” DETERMINE “Just Compensation” (FMV)

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ACQUISITION “The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”

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  1. ACQUISITION“The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”

  2. 5 BASIC STEPS TO ACQUISITION • NOTIFY property owner of intention to acquire property • NOTIFY property owner & tenants of their “URA Protections” • DETERMINE “Just Compensation” (FMV) • OFFER Just Compensation • COMPLETE sale as expeditiously as possible

  3. Step 1. Notify Property Owner ofIntention to Acquire Property • This is a PRELIMINARY acquisition notice • “Notice of Interest” or “Notice of Intent to Acquire” • Optional: “Statement of Owners Determination” • Sample letter available upon request

  4. Step 2.Notify Property Owner & Tenants of their URA Protections • Essential: Send the HUD Brochure with the Notice of Intent! (see Step 1) • It’s called “When a Public Agency Acquires your Property” • It can be found at the following site: http://www.hud.gov/offices/cpd/library/relocation/publications/1041.pdf

  5. Step 3. Determine “Just Compensation” • Just Compensation = Fair Market Value (FMV)… • Requires Appraisal and a Review Appraisal • Unless…simple acquisition < $10,000.00 • Qualifications for Appraisers found in URA regulation • Administrative Settlement Exceptions…

  6. Step 3, “Just Compensation” continued For simple acquisitions < $10,000: • Appropriate valuation methodology must be used (tax records, for example) • Owner still has right to appraisal For Property Donations: • Owner must be informed of appraisal & just compensation rights • Waiver must be provided by owner in writing (use HUD Form)

  7. Step 4: Offer Just Compensation • “Notice of Just Compensation and Summary Statement” • This is a written purchase offer • Must summarize basis for the offer, including… • Property Description • ID of any bldgs, equipment & fixtures included (again - samples available)

  8. Step 5: Complete Sale ASAP • Consider community meeting if large # of easements or ROW’s are needed • Consider “Face-to-Face” • Agency must consider owner’s viewpoints & may update appraisal as a result • All property transfer costs must be paid by agency • Deed should be filed at courthouse

  9. We will monitor your file for… • List of Acquired Properties • Evidence that all Notices were Sent • Copies of Any Waivers • Copy of Appraisal & Review Appraisal • Property Description • Closing or Settlement Statement • Evidence of Payment • Evidence of Property Transfer & Copy of Deed

  10. Web Resources • http://www.hud.gov/offices/cpd/library/relocation/index.cfm • http://www.fhwa.dot.gov/realestate/ua/index.htm • http://www.hud.gov/offices/cpd/library/relocation/publications/1041.pdf (“When a Public Agency Acquires Your Property” Brochure)

  11. Rick Huber Email: rhuber@dca.ga.gov Voice: (404) 679-3174 Fax: (404) 679-0565 Pam Truitt Email: ptruitt@dca.ga.gov Voice: (404) 679-5240 Fax: (404) 679-0565

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