Rebel Meadows Property Owners Meeting 5122010 Approval from

Rebel Meadows Property Owners Meeting 5/12/2010

Approval from Federal Highways § FHWA has waived the occupancy requirement for replacement housing under provisions of 49 CFR Part 24. 403 (d)(1) of the Uniform Act. § § This means that you do not have to be physically living at the residence from this point forward. You will not lose any Relocation Housing Payment (RHP) by staying in temporary housing because of the flooding.

Appraisal Process § The appraisal will be based on pre-flood conditions. § The appraisal process has not changed. § The appraisals and review appraisals will be conducted in the same manor that was originally explained.

Appraisers Standifer and Associates § David and Amy Pendley – Tract 19 § Libanessa Rivera – Tract 20 § Mark and Kathleen Brewer – Tract 34 § Ida Galehouse – Tract 39 § Mary Ann Poteete – Tract 28 § Luis and Teresa Pinto – Tract 25 Norman Hall and Ass. § Sallie Ladd – Tract 35 § Donald and Jane Cates – Tract 13 § Jonnie Griffin – Tract 18 § Mark and Cindy Tumblin – Tract 21

Review Appraisals § Norman Hall and Associates will complete the review appraisals for the tracts that Standifer and Associates appraise. § Standifer and Associates will complete review appraisals on the tracts that Norman Hall and Associates appraise. § This rearrangement in assignments will assist in quicker completion of the appraisal process.

Temporary Housing § Temporary housing NOT covered by insurance will be reimbursable. § This will be paid until comparable housing is made available and notice to vacate has been exhausted. § Will need verification from property owners that insurance is not paying for temporary housing. § Any temporary housing since May 1 st will be reimbursable

Temporary Housing (Cont. ) § Temporary Housing needs to be comparable to existing housing § Will have to pass a decent, safe and sanitary inspection § Will not be reimbursing for storage rental. § Utilities are not reimbursable unless they are included in the cost of the rent.

Moving Cost Benefits § Moving cost benefits will be made available for both the move to temporary housing and to permanent replacement housing on a fixed (self) move cost basis. § This does not mean that you have to move yourself, it means the reimbursement will be based on number of rooms.

Insurance Payments § Acquisition will be coordinated with the home-owners insurer so that all insurance entitlements are received and that fair market value is paid. § Insurance proceeds needs to be sufficiently documented to assure that duplication of benefits does not exist.

Example Property Owner Has Insurance Property Owner Does Not Have Insurance Appraised Value $200, 000 Insurance Payment $ 50, 000 Insurance Payment $ City Offer $150, 000 City Offer $200, 000 Temporary Housing $ Relocation Housing (RHP) $ 22, 500 6, 000 If a property owner purchases or builds a house for $222, 500 or more, the property owner will receive a total package of $228, 500 in both cases.

Federal Register Part 24. 3 No duplication of payments. No person shall receive any payment under this part if that person receives a payment under Federal, State, local law, or insurance proceeds which is determined by the Agency to have the same purpose and effect as such payment under this part.

24. 403(g) Insurance Proceeds To the extent necessary to avoid duplicate compensation, the amount of any insurance proceeds received by a person in connection with a loss to the displacement dwelling due to a catastrophic occurrence (fire, flood, etc) shall be included in the acquisition cost of the displacement dwelling when computing the price differential.

Timeline § Completing Appraisals – 30 days or less § Completing Review Appraisals – 15 days or less § Completing Relocation Plan – 15 days or less § Make Offers – 5 days or less § Total Time of 65 days or less

Conclusion § The fair market value will be based on pre-flood § § § conditions. Temporary housing costs will be reimbursable, unless covered by home-owners insurance. Appraisal process will be the same as before the flood. You will not lose any relocation housing payment (RHP) by moving to temporary housing; occupancy requirement has been waived by FHWA. Moving costs will be paid based on room count. FHWA would like to gain legal right to occupy the property for the purpose of removing the damaged improvements as soon as possible.

Conclusion (cont. ) §THE BOTTOM LINE The Total Amount Each Property Owner Would Have Been Offered And Received Prior To The Flooding Will NOT Be Reduced.

Questions City of Franklin Contacts: Ben Worley, Right-of-Way Agent/Project Manager Office – 615 -791 -3218 Cell – 615 -428 -3591 Eric Gardner, Director of Engineering Office – 615 -791 -3218 Appraisers Standifer and Associates Contact: Gary Standifer – 615 -371 -9910 Norman Hall and Associates Contact: Norman Hall – 615 -255 -2784 Relocation Agent W. D. Schock Company Contact: Jean Garrison – 615 -399 -0585