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This document outlines essential practices for land appraisals, acquisitions, and leases, focusing on fair valuation and compliance. It emphasizes starting with the appraised value to avoid public funding issues. The need for periodic checks of lease rates and adjustments for inflation and appraisal services are also highlighted. This approach facilitates effective negotiations for individual leases within an airport's overall rate structure, while ensuring compliance with grant assurances. Stakeholders are encouraged to consult the FAA for land acquisition under the AIP.
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Appraisals Land Acquisition and Leases
Land Acquisition/Land Swap • Start with the appraised value • Gift of public funds if lower value is used • May be consequences if a higher value is used
Leases • Periodic check of rates in individual leases • With any lease option trigger • A reality check for periodic CPI rate increases
Leases Cont’d • Beginning rate establishment for individual lease negotiations • Airport –wide (aviation & non-aviation) rate structure
Leases • Airport-wide • Dilemma: how to adjust among existing leases • Helps to ensure grant assurance compliance • Could be used to establish base line for future leases
Leases • Retainer for appraisal services • Retainer for land surveying services • Scope is general—talk to the FAA if land acq. is AIP
