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� CMT <br /> MEMORANDUM <br /> TO: Matt Newell, City of Decatur <br /> FROM: Ambra Knox, C.M. <br /> CC: Pat Holtrop <br /> DATE: October 7, 2019 <br /> SUBJECT: Parcel 38_Commercial Real Estate Group, LLC, 1940 Brush College Rd <br /> , <br /> As there are federal dollars in the Brush College Road improvement program, the <br /> Uniform Relocation Assistance and Real Property Act (Uniform Act) must be adhered to <br /> when acquiring the necessary property and relocating businesses, personal property <br /> and residences. <br /> Per the Uniform Act, Commercial Real Estate Group, LLC's, property was appraised <br /> and the Fair Market Value (FMV) was determined to be $99,900. This appraisal was <br /> then sent to an independent review appraiser who concurred with the value. Per <br /> regulations, the City then made an offer to Commercial Real Estate Group, LLC, for the <br /> appraised value of$99,900. The owner obtained his own appraisal for the property <br /> using a State of Illinois Department of Transportation (IDOT) approved appraiser who <br /> valued the property at $200,000. This appraisal was considered to be a valid appraisal <br /> meeting the IDOT standards for appraisals, and it was decided to pay the property <br /> owner the appraised value of$200,000. <br /> Per the Uniform ACT, Commercial Real Estate Group, LLC's tenant is also entitled to <br /> relocation benefits. These benefits provide reimbursement for moving expenses to the <br /> owner's for personal property. There are rules, regulations and oversight for them to be <br /> able to claim these benefits and this has been explained to the owners. CMT is <br /> estimating an additional $50,000 to move the personal property/contents and dispose of � <br /> items in an environmentally safe and lawful manor, as needed. ' <br /> Therefore, the total cost of acquiring this Parcel is estimated to be: <br /> Real Estate (negotiated price)— $200,000 <br /> Relocation- 50 000 <br /> TOTAL $250,000 <br />