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Res82 RD-82-10
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Res82 RD-82-10
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Last modified
7/5/2005 3:00:59 PM
Creation date
6/10/2003 12:16:37 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Agency Type
Redevelopment
Date
6/14/1982
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condemnation . At, the Agency may make a provl _onal replacement housing <br /> payment to the displaced homeowner equal to the difference between <br /> the Agency's maximum offer for the property and the reasonable cost <br /> of a comparable replacement dwelling, but only if the homeowner enters <br /> into an agreement that upon final adjudication of th~condemnation <br /> suit, the replaoement housing payment will be recomputed on the basis <br /> of the acquisition price determined by the court. If the acquisition <br /> price as determined by the court is greater than the maximum offer <br /> upon which the provisional replacement housing payment is based, the <br /> difference will be refunded by the homeowner to the Agency, providing <br /> the recomputed replacement housing payment should be less than originally <br /> received from the Agency. If the acquisition price as determined <br /> by the court is less than the maximum offer upon which provisional <br /> replacement housing payment is based, the difference will be paid to <br /> the homeowner up to the $15,000 maximum. <br /> 18.7 Lease of Condominium. For the purposes of this section, the leasing <br /> of a condominium for a 99-year period, or for a term which exceeds <br /> the life expectancy of the displaced person as determined by the most <br /> recent life tables in Vital Statistics of the United States, as published <br /> by the Public Health Service of the Department of Health, Education and <br /> Welfare, shall be deened a purchase of the condo~u[nium. <br /> 19. Replacement Housing Payments for Tenants and Certain others <br /> 19.1 General. The Agency shall pay to a qualified displaced person a payment <br /> not to exceed $4,000 for either: <br /> 19.11 An amount, computed in accordance with ~ubsection 19.31, necessary <br /> to enable such person to lease or rent a replacement dwelling for <br /> a period not to exceed 4 years, or, <br />- 19.12 An amount, computed in accordance with subsection 19.32, necessary <br /> tx) enable such person to make a downpayment on the purchase of <br /> <br /> <br />
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