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1、ACRP Problem No. 09-03-07 Recommended: Yes Property Value Impacts from Avigation Easements ACRP Staff The problem statement originated from A03-03 project and is generally supported by the project panel. Some discussion on the topic appears in published ACRP Synthesis 9, Effects of Aircraft Noise. T
2、RB Aviation Group Environmental Impacts of Aviation Cmte: A better understanding of the real value of easements would be useful. OUTLINE FOR AIRPORT COOPERATIVE RESEARCH PROGRAM PROBLEM STATEMENTS A AC CR RP P Problem Number 09-03-07 Revised 4-10-09Revised 4-10-09 I. PROBLEM TITLE Property Value Imp
3、acts from Avigation Easements II. RESEARCH PROBLEM STATEMENT As compatible land acquisition concerns continue to rise and the implementation of more non-precision and precision approaches are developed with new instrumentation (GPS) approaches, acquisition of avigation easements are expected to rise
4、. One of the primary questions often asked by property owners who are asked to sell their avigation rights for the safe navigation of aircraft is, “What will happen to my property values once the easement is in place?” Identifying an answer to this question would allow consultants and sponsors to be
5、tter address property owner concerns related to this issue. Additionally, appraisers who provide the valuation of avigation easements, often request guidance on the impact of avigation easements on the subject properties. III. OBJECTIVE The purpose of this project would be to conduct a multi-step ef
6、fort to assess the question of the impact of an avigation easement on the value of a parcel over the short and long-term period of its existence and provide a document that can be referenced by industry professionals and real estate professionals when conducting avigation easement projects. IV. RESE
7、ARCH PROPOSED Establishing a general assessment of the impact of avigation easements on long-term property values would facilitate a more educated approach to the appraisal, negotiation and general assessment of the land acquisition process. Since valuation drives much of the avigation easement proc
8、ess, a great deal of information, consistency, and research is needed to make the valuation process more effective. This would benefit appraisers, land acquisition specialists, and those in the legal profession, including the courts. Since the FAA requires market data support for the valuations of e
9、asements, having a national perspective from this research would be beneficial. It is proposed that a multi-step assessment be developed which would include the following steps: Literature review This task would identify and provide an annotated bibliography of resources found to relate to this topi
10、c. According to many of the industry professionals polled in an informal survey by Mead the Appraisal Institute, the International Right of Way Association (IRWA), and the American Society of Appraisers (ASA). These assessments would also be used to identify airports/communities where avigation ease
11、ments have been acquired to provide a pool of potential candidates for specific case studies to provide actual field assessment of values. Unfortunately, airports have been reluctant to provide information on their acquisitions, but it is hoped that this study could open the doors to this valuable i
12、nformation. Identification of avigation easement projects This task would utilize information collected in the previous task and provide recommendations for the selection of case study airports/communities that have under taken acquisition projects over the past 15-20 years. Consideration would be g
13、iven to the 2 proximity of the easements to the runway ends, the types of airports, the types of approaches on the runway, the degree of restrictions on the property, types of uses on the surrounding property, and possibly noise contours, if available. Once identified, the case study sites would be
14、assessed by the project team to evaluate the existing conditions, the historic actions associated with the easement acquisition, the limitations/restrictions associated with the easement and the appraisal documents. Then, several methods of impact measurement would be utilized on a sample of propert
15、ies in the area, including those encumbered by avigation easements to determine the current value of the subject parcels and comparable parcels without easements. These case studies would provide the basis for the study findings. The research may result in a summary of case studies that can be utili
16、zed as a resource for industry consultation, or if specific trends are found, possibly general guidelines may be outlined that can assist in future assessments. V. ESTIMATE OF THE PROBLEM FUNDING AND RESEARCH PERIOD Funds: $350,000 - $400,000 Contract Time: 12-18 months VI. URGENCY AND PAYOFF POTENT
17、IAL Acquisition of avigation easements are likely to increase in the very near future as the approach areas for newer GPS based approaches continue to be expanded into airports which previously had limited or no instrumentation that required approval clearance of obstructions. By establishing guidan
18、ce and background data on the impact of avigation easements on property values, land consultants will have data available to them to assist in the appraisal process as well as the negotiation process. Providing this data as soon as possible will assist in the appraisal and negotiation process and fa
19、cilitate more comprehensive assessment of the easement impacts. The anticipated payoff is that a specific answer that is based upon formal research could be referenced to the question of impacts on long term value. Obviously, there are numerous issues which can, and must be, taken into consideration
20、 such as the geographic location, the degree of restriction associated with the easements, proximity to the airport/runway environment, the existing uses of the property, the general value of the market, etc. Consideration of these issues and identification of specific parameters which may be more o
21、f an influence than others could be noted, if found to exist. Through discussions with various land acquisition specialists and real estate appraisers skilled in avigation easement acquisition, their support for the development of such a document out weighs their concerns regarding the availability
22、of data. VII. RELATED RESEARCH ACRP 03-03 Enhancing Airport Land Use Compatibility - identified increased land acquisition and avigation easements as a viable tool to address land use compatibility. VIII. PERSON(S) DEVELOPING THE PROBLEM Stephanie A.D. Ward, AICP Manager, Aviation Planning Services
23、Mead & Hunt, Inc. 2605 E. Airport Service Drive Lansing, MI 48906 T 517-321-8334 F 517-321-5932 Tim Davis, SR/WA Manager Land Services Commonwealth Associates, Inc. 3 PO BOX 1124 JACKSON MI 49204-1124 T 517 788-3000 George Bratcher, Jr., MAI, ASA Bratcher & Associates. 207 West Columbia Avenue Battl
24、e Creek, MI 49015 T 269-965-1444 F 269-965-1505 David C. Maturen, SR/WA Certified General Real Estate Appraiser Maturen & Associates, Inc. 1125 East Milham Avenue Portage, Michigan 49002-3013 Phone 269-342-4800 Fax 269-342-5448 IX. PROCESS USED TO DEVELOP PROBLEM STATEMENT The problem statement was
25、first identified by the teams working on ACRP Project 03-03 Enhancing Airport Land Use Compatibility, as well as current work being completed by Mead & Hunt staff within the industry. Several land consultant specialists that are frequent teaming partners to Mead & Hunt were consulted on their interest in having such information available to them for use during appraisals, negotiations and general consultation during land acquisition projects X. DATE AND SUBMITTED BY Date: April 10, 2009 Revised: April 10, 2009 Submitted by: Stephanie A.D. Ward, AICP
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