• Rothfelder On IBOUSA Fall Memphis Conference

    Richard Rothfelder, Partner, Rothfelder Falick

    Chris Cowlbeck and his staff at IBOUSA have once again scheduled a productive, educational, and fun conference at the beautiful Graceland Guest House in Memphis on October 2 through 4. I’ll be presenting on the “Practical Aspects of Billboard Condemnations: A Case Study under Texas Law” in the afternoon session on October 3rd. In fact, my friend and colleague, Allen Smith of the Dallas law firm of Settle Pou, will be making a joint presentation with me on billboard condemnation. Allen will focus his presentation on the general law of billboard condemnation across the Country, and as the title suggests, I’ll be drilling down on the practical step by step procedures of a typical billboard acquisition negotiation and condemnation in my state of Texas.

    You can access my PowerPoint presentation here, but in summary, I’ll be discussing the following points:

    1.Introduction, including Government’s power of eminent domain under Fifth Amendment.

    2.Background in Texas, including compensation based on advertising revenue from the sign under gross rents multiplier approach (a type of comparable sales or income approach, as contrasted and explained from the cost approach).

    3.Clear Channel Outdoor vs State of Texas case, at the Court of Appeals and Texas Supreme Court levels, and its impact on compensation, realty vs personalty, and procedures.

    4.TxDOT’s March 2016 Guidance on the compensation and relocation of signs displaced by TxDOT’s highway projects, including how it changed previous procedures, and  is now being litigated.

    5.Relocation of sign, including review of rules, as modified by Guidance.

    6.Bona fide offer letter, for sign and real estate interest (lease, easement, or fee).

    7.Appraisal, and approaches to value for sign (cost) and real estate (income).

    8.Valuation approaches for outdoor advertising interests, including how to value the sign under the cost approach (cost new, less depreciation) and real estate under the income approach (whether lease, easement or fee-market annual ground rent, or net operating income, divided by capitalization rate of about 6%).

    9.TxDOT’s forms, including Landowner Bill of Rights, and TxDOT’s manuals on relocation and acquisition.

    10.Negotiations, including concerns about agreement on sign value before commissioners’ hearing, failure of land owner to agree, and agreement on sign but not leasehold.

    11.Settlement documents, including Memorandum of Agreement, Quitclaim Deed, Disclaimer of Interest, and other instruments, including right to relocate sign.

    12.Special Commissioners’ hearing, including procedures, strategies,  and right to de novo appeal.

    13.Civil litigation, including discovery, appraisals, expert witnesses,  trial, appeal,  and other aspects of a regular civil case.

    I hope to see you in Memphis!

     


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