Common use of Eminent Domain Procedure Clause in Contracts

Eminent Domain Procedure. For real property interests acquired by eminent domain proceedings instituted after the effective date of this Agreement, the Town shall notify the State and the State shall notify the Government in writing of the intent to institute such proceedings and submit the appraisals of the specific real property interests to be acquired for review and approval by the State and Government. (1) If the Government through the State provides written approval of the appraisals, the State will notify the Town of such approval and the Town shall ensure that the amount set forth in such appraisals is used as the estimate of just compensation for the purpose of instituting the eminent domain proceeding. Fair market value for the purpose of reimbursement shall be either the amount of the court award for the real property interests taken or the amount of any stipulated settlement or portion thereof that the Government through the State approves in writing. (2) If the Government through the State provides written disapproval of the appraisals, the State will provide written disapproval to the Town and the Government and the State and Town shall consult to promptly resolve the issues that are identified in the Government’s written disapproval. In the event the issues cannot be resolved, the Town may allow the amount set forth in its appraisal to be used as the estimate of just compensation for purpose of instituting the eminent domain proceeding. However, fair market value for the purpose of reimbursement shall be the lesser of the amount of the court award for the real property interests taken (or the amount of any stipulated settlement, if applicable), or the amount determined by an appraisal prepared by the Government. (3) For interests in lands subject to shore erosion acquired by eminent domain proceedings, the Government will reimburse the amount of the court award or stipulated settlement only to the extent that the court award or stipulated settlement considered special benefits in accordance with the Uniform Standards. If the court award or stipulated settlement did not consider such benefits, fair market value for the purpose of reimbursement shall be limited to the amount determined by an approved appraisal considering such benefits. The State has no authority to provide reimbursement to the Town greater than the amount approved by the Government and received by the State.