- A. The Department shall not pay more than fair market value to acquire private property using MIF monies.
- B. To determine the fair market value of private property to be acquired using MIF monies, the Department shall have the private property appraised by a professional appraiser who is under contract with the state.
- C. A property owner that disagrees with the fair market value determined under subsection (B) may appeal the determination under R8-3-117.
- D. For all other expenditures of funds relating to property preservation, the Department shall follow guidelines found in Title 41, Chapter 23, Article 5 relating to construction, building improvement and procurement standards.
Historical Note
New Section recodified from R20-1-509 under Laws 2010, Ch. 208 at 18 A.A.C. 848, effective March 15, 2012 (Supp. 12-1). Section R8-3-109 renumbered to R8-3-106; New Section R8-3-109 made by final rulemaking at 19 A.A.R. 588, effective March 5, 2013 (Supp. 13-1).