Laserfiche WebLink
Board Policy No. 12 <br />Excess Real Property Utilization Plan <br />Page 1 of 3 <br />Summary <br />This document establishes the real property disposition policy for NCTD real estate assets <br />purchased with assistance from the Federal Transit Administration (FTA). <br />NCTD Real Property with an FTA Interest <br />NCTD owns real property that was purchased with assistance from the FTA, referenced in this <br />policy as “real property with an FTA interest.” <br />Excess real property with an FTA interest is real property that is no longer needed to carry out <br />the originally FTA-authorized transit purpose. <br />Inventory of NCTD Real Property with an FTA Interest <br />NCTD shall prepare and keep up-to-date an excess real property with an FTA interest inventory. <br />The inventory list shall include such elements as the following: <br />1. Property location; <br />2. Summary of any conditions on the title, original acquisition cost, and the FTA participation <br />ratio; <br />3. FTA grant number, appraised value, and appraised date; <br />4. Brief description of improvements; <br />5. Current use of the property; and <br />6. Anticipated disposition or action proposed. <br />Disposal of Excess NCTD Real Property with an FTA Interest <br />Disposal of excess real property with an FTA interest requires Board approval. <br />Disposition of any NCTD property with an FTA interest shall follow FTA Circular 5010.1E, Chapter <br />IV; 49 C.F.R. part 18.31; 49 C.F.R. part 24, subpart B; and FTA Master Agreement, Section 19. <br />NCTD will not dispose of, modify the use of, or change the terms of the real property with an FTA <br />interest title without permission and instructions from FTA. <br />NCTD real property with an FTA interest may be transferred to a public body to be used for any <br />public purpose with no further obligations to the FTA provided the transfer is approved by the FTA <br />and conforms with the requirements of 49 U.S.C. 5334(h)(1) and (2). <br />NCTD shall obtain a valuation of excess real property with an FTA interest pending disposal. <br />NCTD shall follow the valuation requirements as required under FTA Circular 5010.1E, Chapter