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<br /> <br />31 | Page <br />Docktown Plan <br />OAK #4823-0464-7229 v3 <br />Qualifying Event for Incentive Payment <br />Incentive Payment <br />Amount <br />Execution of Agreement to Relocate Within 60 Days After <br />Service of Relocation Notice $5,000 <br />Execution of Agreement to Relocate Within 60-90 Days <br />After Service of Relocation Notice $2,500 <br />Execution of Agreement to Relocate Within 90-120 Days <br />After Service of Relocation Notice $1,000 <br />Failure to Execute Agreement to Relocate within 120 Days <br />After Service of Relocation Notice Will Result in No <br />Incentive Payment $0 <br /> <br />Enhanced Benefits Only for Senior, Low-Income, <br />Veteran, and Sub-Tenants <br />Sub-tenants meeting the definition of Senior, Low-Income, Veteran or Disabled as defined <br />in this Docktown Plan are eligible for one additional type of assistance, replacement <br />housing payments. <br />3. Replacement Housing Payments (Move to Land Based Housing): <br />The City would provide a Replacement Housing Payment equal to three (3) <br />months’ rent of the average apartment in Redwood City as established via a <br />replacement housing rent survey conducted by OPC, only for Low-Income, Senior, <br />Disabled, or Veteran Sub-tenants who move to land-based housing. The size of <br />unit utilized to calculate the Household’s payment will be based upon the number <br />of bedrooms present in their Dwelling. <br />6.1.B. - Page 57