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1996
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1996
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CITY CLERK
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74 <br />normal right -of -way as may be indicated on the approved right -of -way <br />map. The City will be responsible for any additional right -of -way <br />required for the completion of the Project. <br />B. In the event the right -of -way is donated to the City after July 13, <br />1994, the City will provide all documentation to the State regarding the <br />value of the acquired property. The State will review the City's <br />appraisal of the donated property to determine the fair market value. <br />The fair market value of donated right -of -way will be credited towards <br />the City's financial share towards the cost of the project. Right -of- <br />way shall be donated in accordance with the regulations established in <br />23 USC Section 323. <br />C. The State will not reimburse the City any funds in the event the <br />right -of -way was purchased before execution of this agreement, and the <br />fair market value of the donated property exceeds the City's financial <br />share towards the project. <br />4. RIGHT -OF -WAY DESCRIPTION <br />The City shall prepare right -of -way maps, property descriptions and <br />other data as needed to properly describe the right -of -way which the <br />City is to acquire and provide for the project. The right -of -way maps <br />and property descriptions shall be submitted to the State for approval <br />prior to the City acquiring the necessary right -of -way. Tracings of the <br />maps shall be retained by the City for its permanent records. <br />5. DETERMINATION OF RIGHT -OF -WAY VALUES <br />The City agrees- to make a determination of property values for each <br />right -of -way parcel by methods acceptable to the State and to submit to <br />the State's District Office a tabulation of the values so determined, <br />4 <br />
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