How does the Voluntary Acquisition program work?
If you choose to participate in the voluntary acquisition program, when the program is initiated, your home will be appraised to determine the Fair Market Value (FMV), and will be made an offer at the FMV. You will have the opportunity to review the offer, obtain your own appraisal, and negotiate the selling price based on any additional information provided. The effects of the project on the value of your home are disregarded during the appraisal process by evaluating similar housing prices outside of the project area. As such, the program is structured so that you will be able to purchase a functionally equivalent home (i.e., similar home in size and neighborhood character), without financial burden. You would also be eligible for relocation assistance, closing costs reimbursement, interest differential, and other benefits intended to prevent you from being burdened with financial expenses. As the owner, you have the right to opt out (choose to retain your home) at any time in the pr
