Laserfiche WebLink
EXHIBITS and ADDENDA <br /> Acronyms and Definitions <br /> Acronyms <br /> Following are certain acronyms and definitions of significant terms used in this appraisal report. Sources <br /> and authorities for the following definitions are shown as text—notes. <br /> AC—acre <br /> CDOT—Colorado Dept. of Transportation <br /> PSF or SF—per square foot; square foot <br /> ROW or R.O.W.— Right of Way <br /> Definitions <br /> Benefits (Specific Benefits) — "...any benefits to the residue are to be measured by the increase, if any, <br /> in the reasonable market value of the residue due to the (construction) (improvement) of the <br /> (...proposed improvement). For anything to constitute a specific benefit, however, it must result directly <br /> in a benefit to the residue and be peculiar to it. Any benefits which may result to the residue but which <br /> are shared in common with the community at large are not to be considered." (CJI—Civ. 4th, 36:4) <br /> Compensation — "...ascertain the reasonable market value of the property actually taken and the <br /> amount of compensable damages, if any, and amount and value of any specific benefit, if any, to the <br /> residue of any land not taken." (CJI—Civ. 4th, 36:1) <br /> "(a) For highway acquisition, the right to compensation and the amount thereof, including damages and <br /> benefits, if any, shall be determined as of the date the petitioner is authorized by agreement, <br /> stipulation, or court order to take possession or the date of trial or hearing to assess compensation, <br /> whichever is earlier, but any amount of compensation determined initially shall remain subject to <br /> adjustment for one year after the date of the initial determination to provide for additional damages or <br /> benefits not reasonably foreseeable at the time of the initial determination. (b) If an entire tract or <br /> parcel of property is condemned, the amount of compensation to be awarded is the reasonable market <br /> value of the said property on the date of valuation. (c) If only a portion of a tract or parcel of land is <br /> taken, the damages and special benefits, if any, to the residue of said property shall be determined. <br /> When determining damages and special benefits,the appraiser shall take into account a proper discount <br /> when the damages and special benefits are forecast beyond one year from the date of appraisal. (d) In <br /> determining the amount of compensation to be paid for such a partial taking, the compensation for the <br /> property taken and damages to the residue of said property shall be reduced by the amount of any <br /> special benefits which result from the improvement or project, but not to exceed fifty percent of the <br /> total amount of compensation to be paid for the property actually taken." (§ 38-1-114(2),C.R.S.) <br /> Damages— "...Any damages are to be measured by the decrease, if any, in the reasonable market value <br /> of the residue, that is, the difference between the reasonable market value of the residue before the <br /> property actually taken is acquired and the reasonable market value of the residue after the property <br /> actually taken has been acquired. Any damages which may result to the residue from what is expected <br /> to be done on land other than the land actually taken from the respondent and any damages to the <br /> residue which are shared in common with the community at large are not to be considered." (CJI—Civ. <br /> 4`h, 36:4) <br /> Easement — "An easement can generally be described as an interest in land of another entitling the <br /> owner of that interest to a limited use of the land in which it exists, or a right to preclude specified uses <br /> Bonnie Roerig & 9Lssociates, CCC Real Estate Analysts - -Valuation Consultants <br />