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Board Policy No. 11 <br />Real Estate <br />Page 1 of 5 <br />Summary <br />This policy establishes real property management goals, objectives, and procedures for NCTD <br />real estate assets. <br />Purpose <br />Real estate shall be developed and managed to increase ridership and revenue and to enhance <br />the transit rider’s experience. <br />Use of District Property <br />Use of District property by third parties shall not interfere with current or future transit use by the <br />District. <br />District staff and consultants shall adhere to recognized industry standards of conduct and <br />federally-required procedures, where applicable, when negotiating leases, licenses, easements, <br />right to use, acquisitions, disposition, and relocations. <br />District Property with Federal Transit Administration (FTA) Interest <br />Certain NCTD real property has a FTA interest that has resulted from NCTD receiving FTA <br />funding for the purchase of the real property. For purposes of this policy this real property is <br />referenced as “real property with an FTA interest.” <br />1. Real property with an FTA interest shall be managed and used in accordance with the <br />Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as <br />amended (Uniform Act or URA) (PL 91–646), FTA Circular 5010.1D, and 49 CFR part 24, <br />the implementing regulation. <br />2. Real property with an FTA interest shall be used for the originally authorized purposes as <br />long as needed for those purposes, and NCTD shall not dispose of or encumber its title <br />or other interests unless approval has been obtained from the FTA. <br />3. Disposition of real property having an FTA interest that is no longer needed for the <br />originally authorized purpose shall be in accordance with the NCTD Excess Real Property <br />Inventory and Utilization Plan. <br />Real Property Inventory <br />NCTD shall prepare and keep up to date a real property inventory. <br />1. The inventory list shall include such elements as <br />a. Property location, Assessor’s Parcel Number (APN), and size;