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ACQUISITION

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ACQUISITION The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 – PowerPoint PPT presentation

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Title: ACQUISITION


1
ACQUISITIONThe Uniform Relocation Assistance
and Real Property Acquisition Policies Act of
1970
2
5 BASIC STEPS TO ACQUISITION
  1. NOTIFY property owner of intention to acquire
    property
  2. NOTIFY property owner tenants of their URA
    Protections
  3. DETERMINE Just Compensation (FMV)
  4. OFFER Just Compensation
  5. 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)
  • Its 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
  • Unlesssimple acquisition lt 10,000.00
  • Qualifications for Appraisers found in URA
    regulation
  • Administrative Settlement Exceptions

6
Step 3, Just Compensation continued
  • For simple acquisitions lt 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 ROWs are needed
  • Consider Face-to-Face
  • Agency must consider owners 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_at_dca.ga.gov Voice
(404) 679-3174 Fax (404) 679-0565 Pam
Truitt Email ptruitt_at_dca.ga.gov Voice
(404) 679-5240 Fax (404) 679-0565
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