English to Spanish Tech/Engineering Construction / Civil Engineering Street/ roads problems

CDOT is required have a licensed certified appraiser appraise all acquisitions with values estimated to be greater than $5,000. If an acquisition is a partial acquisition, the appraiser values the part acquired and damages to the remainder parcel, if any. Pursuant to federal requirements, appraisals are required to be reviewed by a second licensed certified appraiser to insure that the value established accurately reflects fair market value.

7. Q: How is the value of a business determined?

A: The law does not allow business owners to recover loss of business resulting from a property acquisition and/or relocation.

8. Q: What if I own the building and the business and the building in which the business is located is acquired – will I be compensated for both?

A: You are entitled to be paid fair market value for the building. If the business located in the building is displaced, the business owner may be entitled to business relocation benefits, generally consisting of: (i) reimbursement for costs associated with searching for a new site (capped at $2,500), (ii) reimbursement for reestablishment costs at a new location (capped at $10,000), and (iii) moving expenses (unlimited).

9. Q: What if I decide to go out of business?

A: If you have been determined to be eligible for relocation benefits and you want to go out of business instead of relocating, you can elect to take a one-time payment instead of all other relocation benefits (capped at $20,000). The payment for the loss of your business is computed based upon the tax returns for the business.

10. Q: What if I cannot find a suitable location to relocate my business?

A: Relocation assistance will be provided to assist you in obtaining a suitable location to relocate your business. If such a location cannot be found, you can elect to take a one-time payment in-lieu of all other relocation benefits (capped at $20,000), or you can move your personal property into temporary storage until a suitable location is found. You are eligible to file claims for relocation benefits for a period of 18 months from the time you are displaced.

11. Q: What if I lose my parking?

A: If parking spaces are located in the portion of the property acquired, the real estate appraiser will analyze the effect of the lost parking on the value of the remainder parcel. If the value of the remainder parcel is diminished (or damaged) as a result of the lost parking, such damages will be included in the fair market value determination.

12. Q: Can I talk to someone tonight specifically about my situation?

A: Yes – The CDOT Right-of-Way Manager is here to talk to you, but first, we need your participation in the workshop. We may know more afterwards about your particular situation.

13. Q: I live in a house along Federal that I own – what happens to me and my family?

I’m not sure what this question is getting at. Is this directed to someone who may or may not have a portion or all of their property purchased? Or is this directed toward someone who will have their property purchased? The question needs to be clarified.

14. Q: When will I know for sure if I am affected?

A: The current environmental study, after additional public meetings, will identify a preferred build alternative and once the build alternative is identified, the study will identify all potentially affected properties. Based on the current schedule, that may occur in early 2007. You will not know for sure if you will be affected until the study is approved. An approval document, if one is issued, is currently scheduled for November 2007.

15. Q: How much time will I have after a decision is made on what will be done?

A: If a build alternative is approved by this study and funding for the build alternative is identified, the acquisition process for total ownerships will start immediately so occupants displaced