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land on which to relocate the facili- <br />ties, or the reasonable cost of acquir- <br />ing a substitute site where lands in the <br />same ownership are not available or <br />suitable for use in relocating the facili- <br />ties, or where no other lands are <br />owned by the party or agency. <br />(2) All replacement sites and construction will <br />be in compliance with existing codes, laws or <br />26 <br />standards for the area in which the facility <br />is to be located. <br />Where it is found that the fair market value <br />of the property to be acquired (as deter- <br />mined through the appraisal process) exceeds <br />the cost of functional replacement, Federal <br />funds may participate in the fair market <br />value amount. <br />45-49 RESERVED. <br />(3) <br />