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� CMT <br /> � <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 56_Cohen & Blazier 3925 Faries Parkway <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, Mr. Cohen and Mr. Blazer's property was appraised and the Fair <br /> Market Value (FMV) was determined to be $133,600. This appraisal was then sent to � <br /> an independent review appraiser who concurred with the value. Per regulations, the <br /> City then made an offer to Mr. Cohen and Mr. Blazer for the appraised value of <br /> $133,600. Through negotiations, a settlement of$164,600 was reached. This <br /> represents an increase of approximately 23.2% over the offer value. When considering <br /> the expense of continued negotiations, potential re-appraising, court costs, and other <br /> associated expenses if this parcel were to go through eminent domain proceedings for <br /> acquisition, it seems prudent and fiscally responsible to settle at the negotiated amount. ' <br /> Per the Uniform ACT, Mr. Cohen and Mr. Blazer are also entitled to relocation benefits. <br /> These benefits provide reimbursement for moving expenses to the owners for personal <br /> property. There are rules, regulations and oversight for them to be able to claim these ,' <br /> benefits and this has been explained to the owners. CMT is estimating an additional <br /> $30,000 to move the personal property/contents and dispose of items in an <br /> 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)— $164,600 <br /> Relocation- 30 000 <br /> TOTAL $194,600 �' <br />