2. Property management documents include real estate interest inventories considered to be superior to the needs of the project or program, as well as all ROW use agreements authorized for real estate purchased under 23 or included in a program or project that funded Title 23. (d) Where a concession agreement is not awarded in the context of a competition procedure, the motorway authority must obtain a reasonable market value, as defined by the motorway authority in accordance with national law, provided that an independent assessment is carried out by third parties and made public. With regard to development rights projects over motorway rows, all FARts are available for transfer to the development partner, as there is no existing built-up area above the site. This cannot be the case for air rights projects related to transit stations that can be developed directly above the crossing point or on neighbouring parcels. In some cases, there are no zoning names for transportation rights. In this case, the site must first be in areas for development to take place. Major projects may also include site development agreements in which the local jurisdiction may agree to modify existing land use names to allow for the proposed development project. ROW Use Agreement projects are also useful for local jurisdictions, as they allow for private development that would not otherwise take place, thereby increasing local tax roles. (d) Fair market value refers to the price at which a motorway authority and a concessionaire are willing and willing to enter into a concession contract for a federally funded highway on the open market for a reasonable period of time and in a given transaction for any willing, competent and competent purchaser.
For the purposes of this sub-part, a concession contract on the basis of the best value is considered fair value. This subsection describes the fellow`s responsibility to control the use of real estate acquired for a project involving federal funds at each stage of the project. The fellow must state in his approved MANUAL ROW or RAMP the procedures for maintenance, agreements of use ROW and disposal of real estate shares acquired under Title 23. The Fellow ensures that by-products, including local agencies, comply with federal requirements and ROW procedures approved in accordance with the provisions of Section 710.201 (c) and (d).