5.0. HRSR 04-22-2002 - Laserfiche WebLink

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fgg {I{ iiiiikia • It is important to understand that just corn- The governing regulations articulate three basic pensation and relocation are two distinct types policies of the URA: of benefits that may be available to persons and (1) To ensure that owners of real property to be businesses impacted acquired for federal and federally-assisted C C by condemnation. projects are treated fairly and consistently, to Condemning author- encourage and expedite acquisition by agree- Are there hidden ities generally recog- ments with such owners, to minimize litiga- nize their constitu- tion and relieve congestion in the courts, expenses? Who pays tional obligation to and to promote public confidence in federal for what? pay fair market value and federally-assisted land acquisition pro- )) or just compensation grams; for the real estate. (2) To ensure that persons displaced as a direct However, many do not understand and therefore result of federal or federally-assisted projects often fail to recognize their obligation to provide are treated fairly, consistently, and equitably relocation assistance. In this issue, our readers so that such persons will not suffer dispro- will find an overview of the law pertaining to portionate injuries as a result of projects government's obligation to provide relocation designed for the benefit of the public as a assistance with specific emphasis on business whole; and relocation. We will also address the related topic (3) To ensure that agencies implement these of fixtures/equipment compensation, and offer regulations in a manner that is efficient and the reader some insight into the fixtures/equip- cost effective. ment and relocation issues that affect overall The URA by its compensation and, in turn, real estate valuation terms applies only to C C techniques. We will present a case study and federal agencies and "frequently asked questions" in a subsequent federally-funded However, many do issue of Valuation Viewpoint. projects. Minnesota, not understand and however, like many therefore often fail to The Governing Law has incorpo- states, recognize their Government's obligation to provide relocation rated by reference all assistance to businesses or individuals who are obligation to provide of the provisions of required to move or relocate as a result of a pub- the URA regarding relocation assistance. II lic ifj roect is established by the Uniform assistance,P relocation as , Relocatio n Assistance and Real Property ty services, payments Acquisition Act of 1970, as amended; 42 U.S.C. and benefits regardless of whether the project is §§ 4601-4655 ("URA"); and the regulations funded in whole or in part by federal financial implementing the URA, 49 CFR Part 24. The assistance. IIIpurpose of the URA is to establish a uniform policy for the fair and equitable treatment of persons displaced as a result of programs or pro- jects undertaken by a condemning authority. 4 VALUATION VIEWPOINT VOLUME 7, NUMBER 1 ' SPRING 2002