31-19-65. Functional replacement of real property in public ownership.
The Department of Transportation may, pursuant to state law, incur costs for the functional replacement of real property in public ownership. For the purpose of this section, functional replacement is defined as the replacement of real property, either lands or facilities, or both, acquired as a result of a highway or highway related project with lands or facilities, or both, which will provide equivalent utility.
Application of this law requires that:
(1)The property to be functionally replaced is in public ownership and its replacement is in the public interest;
(2)The owning agency desiring the functional replacement submits a formal request to the Department of Transportation to take such action;
(3)The current fair market value of the land or facility, or both, to be acquired for highway purposes is determined by appraisal; and
(4)Replacement sites and construction are in compliance with existing codes, laws, and zoning regulations for the area in which the facility will be relocated.
Source: SL 1991, ch 234, §1.