Real Estate Appraisal Review
REGION 10 BULLETIN NO: 06-32
SUBJECT: Real Estate Appraisal Review
PROGRAM AREA: Program Management-Real Estate Appraisal Oversight
DATE: October 19, 2006
The purpose of this bulletin is to update all of our grantees on the streamlining of the appraisal oversight process outlined in FTA Circular 5010.1C, Chapter II, section 2.a.4. The cited provision requires prior FTA concurrence when the grantee’s recommended offer of just compensation exceeds $250,000 or when a property appraised at $250,000 or more must be condemned. To date, we have utilized the services of our Headquarters Real Estate personnel to conduct appraisal reviews, which is the key element of this oversight.
With the addition to our Regional team of Dave Leighow, who previously was a Right-of-Way Program Manager for FHWA and has over 30 years experience in real estate, we will now perform this oversight function by reviewing appraisals in the Region office. We expect this change to result in even faster service to our grantees, thus streamlining the project development process.
Consequently, if your project requires appraisals and just compensation offers meeting the requirements of FTA Circular 5010.1C, please send two copies of each appraisal (including the review appraiser’s determination and all supporting documentation) to the attention of Dave Leighow in Region 10.
Should you have any questions regarding this process, please feel free to contact Dave at (206) 220-7965 or send an email to email@example.com.
R. F. Krochalis