Common use of PTNA Land Acquisition Appraisals Clause in Contracts

PTNA Land Acquisition Appraisals. Local/regional governmental entities are required to obtain an independent market value appraisal of lands and rights in land to be acquired for PTNA projects. The appraisal must be prepared in compliance with the USPAP and UASFLA and local/regional governmental entity regulations, and a complete rather than a summary report must be obtained so that all supporting documentation is included. The scope of work provided to the contract appraiser must state that both standards are to be followed and these standards must be identified in the appraisal report. The entities also must have the appraisal reviewed by a qualified appraisal professional. The review can be completed by a qualified employee or the review can be completed by a contracted independent professional appraiser. The review must be completed according to USPAP and UASFLA standards for review reports. The review appraiser’s qualifications are to be included as a part of the review report, and the scope of work must be included in the appendices. High value land acquisitions must be reviewed by the Department of the Interior Office of Valuation Services (OVS) for the purpose of confirming the appraisal adheres to USPAP and UASFLA standards. High value acquisitions are defined as those with an expected value of $2.5 million or higher. This threshold is consistent with thresholds for higher level review contained in the Department of the Interior Appraisal Manual. When OVS review of the appraisal is required, local or regional governmental entities must coordinate with OVS and the SNPLMA Division from the beginning of the appraisal process. OVS must participate in development of the scope or work for the appraisal, selection of the appraiser, participate in and guide the pre-work appraisal conference, and be named as a client and user in the appraisal. In these instances, the appraisal review will be conducted by OVS and the entities will not also be required to obtain their own review of the appraisal report.

PTNA Land Acquisition Appraisals. Local/regional governmental entities entity’s are required to obtain an independent market value appraisal of lands and rights in land to be acquired for PTNA projects. The appraisal must be prepared in compliance with the USPAP and UASFLA and local/regional governmental entity regulations, and a complete rather than vs. a summary report must be obtained so that all supporting documentation is included. The scope of work provided to the contract appraiser must state that both standards are to be followed and these standards must be identified in the appraisal report. The entities also must have the appraisal reviewed by a qualified appraisal professional. The review can be completed by a qualified employee or the review can be completed by a contracted independent professional appraiser. The review must be completed according to USPAP and UASFLA standards for review reports. The review appraiser’s qualifications are to be included as a part of the review report, and the scope of work must be included in the appendices. High value land acquisitions must be reviewed by the Department of the Interior Office of Valuation Appraisal Services (OVS) Directorate for the purpose of confirming the appraisal adheres adherences to USPAP and UASFLA standards. High value acquisitions are defined as those with an expected value of $2.5 million or higher. This threshold is consistent with thresholds for higher level review contained in the Department of the Interior Appraisal Manual. When OVS ASD review is required, the entities will not also be required to obtain their own review of the appraisal report. When ASD review of the appraisal is required, local or regional governmental entities must coordinate with OVS ASD and the SNPLMA Division from the beginning of the appraisal process. OVS ASD must participate in development of the scope or work for the appraisal, selection of the appraiser, participate in and guide the pre-work appraisal conference, and be named as a client and user in the appraisal. In these instances, the appraisal review will be conducted by OVS and the entities will not also be required to obtain their own review of the appraisal report.

PTNA Land Acquisition Appraisals. ‌ Local/regional governmental entities are required to obtain an independent market value appraisal of lands and rights in land to be acquired for PTNA projects. The appraisal must be prepared in compliance with the USPAP and UASFLA and local/regional governmental entity regulations, and a complete rather than a summary report must be obtained so that all supporting documentation is included. The scope of work provided to the contract appraiser must state that both standards are to be followed and these standards must be identified in the appraisal report. The entities also must have the appraisal reviewed by a qualified appraisal professional. The review can be completed by a qualified employee or the review can be completed by a contracted independent professional appraiser. The review must be completed according to USPAP and UASFLA standards for review reports. The review appraiser’s qualifications are to be included as a part of the review report, and the scope of work must be included in the appendices. High value land acquisitions must be reviewed by the Department of the Interior DOI, Office of Valuation Services (OVS) for the purpose of confirming the appraisal adheres to USPAP and UASFLA standards. High value acquisitions are defined as those with an expected value of $2.5 million or higher. This threshold is consistent with thresholds for higher level review contained in the Department of the Interior DOI Appraisal Manual. When OVS review of the appraisal is required, local or regional governmental entities must coordinate with OVS and the SNPLMA Division from the beginning of the appraisal process. OVS must participate 163 The approved language for the restrictive covenant can be obtained from the SNPLMA Program Manager for the PTNA category. in development of the scope or work for the appraisal, selection of the appraiser, participate in and guide the pre-work appraisal conference, and be named as a client and user in the appraisal. In these instances, the appraisal review will be conducted by OVS and the entities will not also be required to also obtain their own review of the appraisal report.