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<br />V. Property Acquisition <br /> <br />The Project developed a stand-alone Real Estate Plan and included it in the <br />Northstar Corridor Rail Project New Starts Criteria submitted on July 14, <br />2005. This plan supplements the information in Chapter 10 of the Project <br />Management Plan. It contains a detailed description of the Project's property <br />acquisition process and the roles and responsibilities of the participating <br />counties and Mn/DOT personnel. In addition, it contains a Parcel Description <br />that categorizes the number of parcels in defined value ranges and a Parcel <br />Acquisition Schedule that provides estimated/actual dates for completing <br />each step of the process. Both items will be maintained and updated <br />throughout the property acquisition process to ensure property rights are <br />acquired in the time-frame necessary for construction and operations, and are <br />included in this monthly report. <br /> <br />In a letter to FTA, the NPO requested an increase in the property value <br />thresholds for local decisions in the property acquisition process. Specifically, <br />Mn/DOT requested an increase in the threshold from $250,000 to $3,000,000 <br />for when FTA must give concurrence prior to the Grantee (Mn/DOT) making <br />an offer. In addition, Mn/DOT requested that FTA increase the threshold from <br />$50,000 to $100,000 or 20%, whichever is higher, for when FTA prior <br />concurrence is necessary on negotiated administrative settlements. <br /> <br />Monthly Report <br />July 18, 2005 <br /> <br />-8- <br /> <br />Northstar Corridor Rail Project <br />