Part1 -Five Mistakes Business Owners Make When Dealing With Eminent Domain
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Transcript of Part1 -Five Mistakes Business Owners Make When Dealing With Eminent Domain
PART 1 FIVE MISTAKES BUSINESS
OWNERS MAKE WHEN DEALING
WITH EMINENT DOMAIN
Martyn L. DanielEminent Domain and Business
Relocation Consultant
First, let me ask you…are you worried? Will your business be relocated by a city or state department claiming eminent domain?
Copyright 2011 Martyn L. Daniel
Chances are you have been notified that a project is forthcoming which may mean that your business will need to move.
Copyright 2011 Martyn L. Daniel
But you DO have rights and reimbursement benefits.
This is what you need to know…
#1 - Failing to Plan the Relocation
Planning should start when you are first aware of the project which will impact your business.
Copyright 2011 Martyn L. Daniel
Begin to think about where you may relocate.
Do not become alarmed because the newlocality can be a more profitable site than
the current site!
Yes, the Government Will Help…
…the best they can, but they have limited resources and time.
Copyright 2011 Martyn L. Daniel
Understand that the government has restricted knowledge of your business’ needs and desires.
If You Fail to Plan the Relocation…
Chances are you’ll lose opportunities
Copyright 2011 Martyn L. Daniel
Suffer business downtime
Run the real risk of moving your business to storage instead of to a store-front, turnkey, operating business.
Your relocation goal is to ensure a seamless transition to
the new site.
So, Don’t Delay Planning for Your Move
Don’t let any controversy over the government’s project schedule, funding or legitimacy delay yourplanning.
Copyright 2011 Martyn L. Daniel
Start planning immediately, and act as soon as any delays are cleared.
Emergency moves are the least desirable for businesses.
You Want to Avoid an Emergency Move!
Copyright 2011 Martyn L. Daniel
Emergency moves will decrease therelocation benefits available to you.
Emergency moves are Stressful!
You want to allow for proper preparation for the move that will ultimately benefit your business.
Copyright 2011 Martyn L. Daniel
The Government Has a Program called the Eminent Domain Business Relocation Benefits Program.
Copyright 2011 Martyn L. Daniel
This is the national program used by federal, state, and local governments enacting eminent domain.
In 2005, the federal government determined the effectiveness of their Eminent Domain Business Relocation Benefits Program.
This study* shows relocated businesses in their study area failed at rates ranging from 25% to 85%.
*http://www.fhwa.dot.gov/realestate/nbrs2002_8.htm
Copyright 2011 Martyn L. Daniel
Timing is Everything
The timing of your relocation determines whether you collect relocation benefits for a planned relocation or an emergency move.
Copyright 2011 Martyn L. Daniel
Moving prior to proper notice can make a business ineligible for relocation benefits.
Copyright 2011 Martyn L. Daniel
Have You Received Any Notice from the Agency or Government?
• Notice of Intent to Acquire
• Offer to purchase real property
• Notice of Eligibility
You must have one of these notices or occurrences before you are eligible for
relocation benefits
Copyright 2011 Martyn L. Daniel
Begin planning for your move immediately.
But do not take any action until you have received the proper notification from the agency.
Copyright 2011 Martyn L. Daniel
Quick Recap
Why do business owners DIY?
They believe they understand the relocation guidelines.
Copyright 2011 Martyn L. Daniel
They trust that the government and the government relocation agent will provide all their needs and “take care of it”.
They believe the movers will “do it all”.
You don’t miss what you don’t know…
but if you plan to do it ALL yourself you are missing out on receiving all of your eligible benefits.
Copyright 2011 Martyn L. Daniel
MISTAKE #4 - COUNTING ON THE AGENCY’S RELOCATION AGENT TO PLAN THE RELOCATION
Copyright 2011 Martyn L. Daniel
Copyright 2011 Martyn L. Daniel
Government relocation agents are responsible for explaining your eligible relocation benefits, but they are not responsible for your planning.
Planning the best use of your relocation benefits is not always a priority for your assigned government relocation agent.
What is the assigned agent’s main goals?
• Move the business off the right-of-way
• Advise the business on eligible relocation benefits
• Assist the business in filing relocation claims.They are not
required to help plan your relocation.
Copyright 2011 Martyn L. Daniel
Proper relocation planning requires the knowledge and use of most, or all, of the following:
• Business operations and management
• Relocation costs and eligible eminent domain relocation cost reimbursements
• Budgeting
• Project pro-forma preparation
• Scheduling
Copyright 2011 Martyn L. Daniel
Proper Planning (also) Requires the Knowledge of:
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Property leases • Equipment design and requirements • Cost estimating • Cost analysis • Building and site design, space layout • Construction costs and needed work, including a working knowledge of the 17 construction disciplines, including:
o Design o Electrical o Plumbing and Mechanical
MISTAKE #5 - FAILING TO MAKE FULL USE OF THE AVAILABLE RELOCATION BENEFIT
Copyright 2011 Martyn L. Daniel
Many Business Will Never Know If They Utilized All the Benefits Available To Them
Copyright 2011 Martyn L. Daniel
Unfortunately…
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Most businesses relocate without realizing how or where relocation benefits could have helped them improve their unique situation.
Copyright 2011 Martyn L. Daniel
Early recognition of relocation benefits will benefit your business by helping you to:
• Plan based on those recognized reimbursable costs • Recognize your opportunity to change and improve your business • Reveal the best replacement location for your business
Early recognition of relocation benefits will ALSO benefit your business by helping you to…
Copyright 2011 Martyn L. Daniel
• Evaluate the opportunity to change the size of your business
• Evaluate and enact a change in business functions
• Evaluate and enact a new business look, or change to a different type of business altogether
A Good Move, Properly Planned May Mean a Fresh Start
Copyright 2011 Martyn L. Daniel
But you need to knowwhat benefits are availableto you first
And it can be difficult to determine where or how to locate the necessary information
• FAILING TO PLAN THE RELOCATION1
• PUTTING OFF PLANNING THE RELOCATION2
• USING A “DO-IT-YOURSELF” APPROACH3
Avoid these mistakes
Copyright 2011 Martyn L. Daniel
• COUNTING ON THE AGENT TO PLAN THE RELOCATION
4
• FAILING TO MAKE FULL USE OF THE RELOCATION BENEFIT
5
And these mistakes..
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Avoid an Emergency Move
Your options and benefits diminish the longer you wait to take charge of your relocation.
Copyright 2011 Martyn L. Daniel
Consider the services of an eminent domain and business relocation consultant who will:
• Have a knowledgeable professional acting as an intermediary.
Copyright 2011 Martyn L. Daniel
• Coordinate and plan with contractors.
• Will find the best resources to make the relocation successful.
An Eminent Domain Consultant Can…
• Save the business money in potentially lost revenue
• Guide business owners through their options
• Make practical recommendations
• Help businesses collect cost reimbursements
• Be available for questions and feedback
Copyright 2011 Martyn L. Daniel
Most business owners who choose to relocate withoutprofessional assistance
will get through their relocation; they just won’t know what benefits they
missed out on and what benefits they would have received with proper
professional help.
Copyright 2011 Martyn L. Daniel
Do You Know What Benefits YouHave Available to You?
…that hiring a Relocation Consultant is an eligible, reimbursable benefit?
Copyright 2011 Martyn L. Daniel
Contact me for a free, no obligation 15-minute call.
Copyright 2011 Martyn L. Daniel
Phone: 425-398-5708
Or schedule a call with me on my calendar:https://my.timedriver.com/F8VSS
Website: www.MartynDanielLLC.com
Email: [email protected]
I am Martyn DanielI can help you understand what benefits you are
entitled to and help you relocateyour business with success!
Copyright 2011 Martyn L. Daniel