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7/29/2019 S50_The High Cost of What You Don't Buy the Complexity of Partial Takings_LTC2013
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7/29/2019 S50_The High Cost of What You Don't Buy the Complexity of Partial Takings_LTC2013
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THE HIGH COST OF WHAT
YOU DON’T BUY -
THE COMPLEXITY OF PARTIAL ACQUISITIONS
BY
DONNA STINSON, ASA, SR/WA, R/W-ACLA. CERTIFIED GENERAL REAL ESTATE APPRAISER
225-242-4586
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OBJ ECTIVES
Better communication/coordination of the various sections within DOTD.
Better design of projects taking allfactors into consideration at the earlystages.
Understand how real estate impacts theproject development process
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“ Eminent Domain” is the power of thegovernment to take private property forpublic purposes with payment of justcompensation.
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ACT N0. 851 TO THE STATECONSTITUTION
In every expropriation or action to take property pursuantto the provisions of this Section, a party has the right totrial by jury to determine whether or not the compensationis just, and the owner shall be compensated to the full
extent of loss. Except as otherwise provided in
this Constitution, the full extent of the owner’s
loss shall include but not be limited to, the
appraised value of the property and all cost of
relocation, inconvenience and any other damages actually incurred by the owner because
of the expropriation. (Article 1 Section 4)
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Issues and/or Concepts That Impact
The Acquisition Process
Misperception of a substantial acquisitionversus a small acquisition – typically many
believe that small acquisitions would have noand/or nominal impact.
The impact of either scenario could besignificant or there could be no impact –dependent on market factors.
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Appraisal Considerations
No two properties are the same.
Highest and best use determinations
impact compensation.
Market reaction to location for any givenproperty type may vary.
Type of occupancy.
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Examples
1) Large timber tract:Real Estate issues considered:
Zoning
Deed Restrictions
Health Unit - Sewer System
Requirements
Inconvenience
Access Management/Ingress/Egress
Severance Damages
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Timberland Use
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2) Convenience Store
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Environmental Issues
Inconvenience
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Convenience Store
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3) Convenience Store
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking
Access Management/Ingress/Egress Traffic Flow on site before and after
Proximity
Environmental Issues
Existing Lease of Convenience Store Additional Compensation
Inconvenience
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Convenience Store
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4) Restaurant
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Environmental Issues Additional Compensation
Inconvenience
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Restaurant
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5) Retail Sales
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Cost-to-cure Severance Damages
Inconvenience
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Retail Sales
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RETAIL USE
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6) Auto Zone
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking Access Management /Ingress/Egress
Traffic Flow on site before and after
Proximity
Cost-to-cure
Inconvenience
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Auto Zone
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7) Credit Union
Real Estate issues considered: Zoning
Green Area/Landscaping Requirements
Parking
Access Management /Ingress/Egress
Traffic Flow on site before and after
Proximity
Cost-to-cure Additional Compensation
Inconvenience
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Credit Union
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) d
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8) Fast Food Restaurant –Church’s Fried Chicken
Real Estate issues considered:
Zoning
Green Area/Landscaping Requirements
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Cost-to-cure
Additional Compensation
Inconvenience
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Church’s Fried Chicken
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9) Fast Food Restaurant –Burger King
Real Estate issues considered:
Zoning
Green Area/Landscaping Requirements Playground
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Inconvenience
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Burger K ing
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10) Volunteer Fire Station
Real Estate issues considered: Zoning
Parking
Access Management/Ingress/Egress Traffic Flow on site before and after
Improvement impacted by cost-to-cure
Proximity Cost-to-cure
Inconvenience
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Volunteer Fire Station
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11) Church
Real Estate issue considered: Zoning – None
Parking
Access Management/Ingress/Egress
Traffic Flow on site before and after
Proximity
Future Church Expansion(Cemetery)
Inconvenience
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Church
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12) Residential Dwellings
Proximity Damages - No set distancefrom new right of way line toresidence.
Proximity Damages are based on the
market an individual residence issituated in (Location/Market Specific).
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