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� as <br /> 4 <br /> 2 ,?' h Valuation• • <br /> • P r <br /> Viewpoint <br /> VOLUME 7, NUMBER I SPRING 2002 <br /> BUSINESS RELOCATION: PART ONE <br /> AN OVERVIEW OF THE RELEVANT LAW <br /> BY STEPHEN T. HOSCH, DARRELL V. KOEHLINGERAND ROBERT J. STRACHOTA <br /> Introduction you with just compensation for the real estate <br /> Our clients often ask questions about the con- taken and, in appropriate circumstances, reloca- <br /> demnation and relocation process: Will I incur tion assistance. An overview of Eminent <br /> out-of-pocket expenses in the process of moving Domain Law can be found in Valuation <br /> my residence/business to a new location? Will Viewpoint/Fall of 1999 (Part One) and Winter <br /> my business suffer as a result of the forced move? of 2000 (Part Two). Generally, just compensa- <br /> • Who will determine the value of my property? tion is the fair market value of the real property <br /> How much will it cost to move my (based on a willing buyer and a willing seller). <br /> residence/business? Is the new location suitable The Appraisal Institute defines relocation as the <br /> for my purposes? Are there hidden expenses? "process in which a federal, state or local public <br /> Who pays for what? How will I know if the gov- agency provides relocation services, paying mov- <br /> ernment's offer is fair? Do I need a lawyer? ing costs and related expenses to individuals, <br /> In simple terms, if government acquires your families, and businesses displaced by urban <br /> property using its power of eminent domain, renewal projects or other federal or federally <br /> then government is required by law to provide assisted programs": required by statute. <br /> continued on page 4 <br /> MARKET TRENDS AND INDICATORS RnallialtRIMEMPIRU <br /> Office Buildings 4' 10% 11070004MatkaaMONWOMON020114 <br /> usi ess Relocation Slime ror��txl�ne � � <br /> Retail Centers 9 0% <br /> Industrial Buildings 5% AnOtcervte rotth , ; t - <br /> Business=Transact►o <br /> Apartments 4 0% pj ttl <br /> a';Releent haw 3 p, Y tib &r* <br /> New Housing Starts 8.9% Paget <br /> ,S b Real EstateTraosaction <br /> Y <br /> Productivit 1.8% ' <br /> aret 1reus anc ert �, � b <br /> Composite PE 32 Ibnd�cators � Se �� <br /> Consumer Confidence Index 97.3 g <br /> page <br /> Number of IPOs 37.1 r gi O A <br /> VALUATION VIEWPOINT 1 <br />