135.255. Displaced enterprise zone resident assistance, when, limitations.
Displaced enterprise zone resident assistance, when, limitations.
135.255. After August 13, 1982, whenever an enterprise zone residentbecomes displaced as a result of condemnation authorized under the provisionsof chapter 353, RSMo, and is displaced from a dwelling which was actuallyowned and occupied by the displaced person as his principal residence for notless than one year prior to the initiation of negotiations for acquisition ofthe property, the redevelopment corporation shall make payment to thedisplaced person upon proper application for:
(1) Actual expenses up to five hundred dollars incurred in movinghimself, his family and other personal property; or the displaced person mayelect to be moved by licensed, bonded moving services, or receive* a movingexpense allowance up to a maximum of five hundred dollars;
(2) Actual dislocation expenses incurred up to two hundred dollars,including as eligible expenses, but not limited to, utility connection costs,and other incidental expenses;
(3) The amount, if any, which, when added to the acquisition cost of thedwelling acquired by the redevelopment corporation, equals the reasonable costof a replacement dwelling which is comparable to the dwelling being acquiredin size, condition, and accessibility to public services, and commercialfacilities, and which is reasonably accessible to his place of employment, andis available on the private market without discrimination due to race, color,creed, religion, national origin, sex or source of income;
(4) The amount, if any, which will compensate the displaced person forany increased interest costs which such person is required to pay forfinancing the acquisition of a replacement dwelling. Such amount shall beequal to the interest differential between the existing and new mortgage basedupon the remaining principal and term on the existing mortgage;
(5) The amount, if any, which will compensate the displaced person forany increased monthly payments for principal, interest, taxes and insurancewhich such person is required to pay due to the loss by such person ofgovernment subsidies, including, but not limited to, subsidies under Section235 of Title 24, Code of Federal Regulations, as a result of being displaced.Such amount shall be discounted to present value. The discount rate shall befive and one-half percent. The payments authorized by this section shall be made only to a displacedperson who purchases or occupies a replacement dwelling which is decent, safeand sanitary not later than one year after the date on which the displacedperson receives payment of consideration for the acquired dwelling or the dateon which the displaced person moves from the acquired dwelling, whichever islater. No payment under this section to any displaced person may exceed tenthousand dollars.
(L. 1982 H.B. 1713, et al. § 13)*Word "received" appears in original rolls.