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55A - RESO FOR RELOCATION LEGACY SQUARE PROJECT
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55A - RESO FOR RELOCATION LEGACY SQUARE PROJECT
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Last modified
4/16/2020 2:52:29 PM
Creation date
4/16/2020 2:23:53 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55A
Date
4/21/2020
Destruction Year
2025
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The purchase and installation of substitute personal property limited to the lesser <br />of: (1) an amount equal to the reasonable expenses that would have been required <br />to relocate the property, as determined by the Developer, subject to certain <br />limitations, or, (2) the replacement cost, less any proceeds from its sale or trade in; <br />j. Connection to available nearby utilities from the right-of-way to improvements at <br />the replacement site; <br />k. The modification of machinery, equipment or other personal property necessary to <br />adapt these to the replacement location or to utilities available at the replacement <br />location; <br />Relettering signs and replacing stationary on hand at the time of displacement that <br />is made obsolete as a result of the move; <br />in. Actual direct losses of tangible personal property resulting from moving or <br />discontinuing a business or non-profit organization, not -to -exceed the lesser of: (1) <br />the fair market value of the property for continued use at its location prior to <br />displacement less any proceeds from sale of the property; or, (2) an amount equal <br />to the reasonable expenses that would have been required to relocate the property, <br />as determined by the Developer, subject to certain limitations; <br />n. Actual and reasonable expenses incurred in searching for a replacement business <br />or non-profit organization location, not -to -exceed $2,500 ($1,000 for State <br />Guidelines), and including compensation for transportation expenses; time spent <br />searching for a reasonable location, meals, and lodging; real estate broker or agent <br />fees; time spent in obtaining permits and attending zoning hearings; and time spent <br />negotiating the purchase of a replacement site; <br />o. Impact fees or one-time assessments for anticipated heavy utility usage <br />p. Low Value/High Bulk: when the personal property to be moved is of low value and <br />high bulk, and the cost of moving the property would be disproportionate to its <br />value in the judgment of the Developer, the allowable moving cost payment shall <br />not exceed the lesser of: (1) the amount which would be received if the property <br />were sold at the site or (2) the replacement cost of a comparable quantity delivered <br />to the new business location. Examples of personal property covered by this <br />provision include, but are not limited to, stockpiled sand, gravel, minerals, metals <br />and other similar items of personal property as determined by the Developer; <br />q. A Reestablishment allowance of up to $25,000 ($10,000 for State Guidelines), <br />available to farms, nonprofit organizations and small businesses with no more than <br />500 employees. Reestablishment allowance payments are made in addition to <br />compensation provided for actual, reasonable and necessary moving expenses. <br />Reestablishment allowance expense categories include but are not limited to: <br />National Community Renaissance <br />Legacy Square Project <br />Relocation Plan <br />55A-12 <br />
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