AgdaPkt 2018-01-08 Joint SA PFA - Laserfiche WebLink

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4 · Reimbursement of up to $1,000 for sales-related costs · Additional incentive payments on a sliding scale, starting with $10,000 for owners of vessels and $5,000 for non-owners for those moving earlier in the relocation timeframe · An offer of City payment of fair market value of the structure if the owner chooses to sell their vessel to the City. Depending on their individual circumstances including family size, dwelling size, the cost of moving their personal property, whether they participated in the incentive program for early decisions on relocation, and whether they qualify for special benefits due to senior, veteran or disabled status, the relocation benefits range from $1,500 to $31,000. On average, tenants and sub-tenants will receive $13,000 in relocation benefits. In response to comments on the draft Docktown Plan, the final Plan included provisions for tenants or sub-tenants to appeal the determination of benefits owed to them under the Plan. Thirty-three appeals were heard, and in several cases relocation benefits were increased based on additional information provided to an independent hearing officer during the appeal process, resulting in increased benefits being allocated to 20 berths. The total cost for providing relocation benefits is estimated at $1,000,000. Potential Acquisition of Boats and Barge Based Dwellings Docktown tenants who are considering sale of their property to the City have completed an independent appraisal process as described above and in the Docktown Plan. Acquisition offers, based on a fair market value assessment, range from $4,000- $48,000 for boats (average offer $15,000), and from $83,000-$1.2 million for barge based dwellings (average offer $580,000). While not all individuals who have completed the appraisal process have agreed to relocate from Docktown, it appears most tenants who completed the process are choosing to sell their property rather than move it or sell it to a private owner. Acquisition cost estimates assume that all tenants who have completed the appraisal process ultimately will choose to sell their property to the City in order to calculate the maximum financial cost, however, tenants may choose not to sell their property to the City, and actual acquisition costs would be somewhat lower in this case. All but two tenants in the barge based dwellings, which have been appraised at higher values, have relocated, agreed to relocate by February 28, 2018, or have begun the process of completing relocation agreements. The total cost for acquiring boats, barge based dwellings and personal property is estimated at $15.1 million. 6.1.B. - Page 4