1974-03 CRA - Laserfiche WebLink

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. (3) The relative import?nce of the present and proposed locåtion to the displaced business and the..availability of a suit- able replacement location for the displaced person. ') 4.3 Farms - partial takinq. Where a displaced person is displaced from only a part of his farm operation, the fixed payment provided by Section 7262(c) shall be made only if the displacing agency ~etermines that the farm met the definition of a farm operation prior to the acquisition and that the property remaining after the acquisition can no longer meet the definition of a farm operation. 4.4 Nonprofit orqanizations. Where a nonprofit organization is displaced, no payment shall be made under Section 7262(c) until after the head of the public agency determines: . a. That the nonprofit organization cannot be relocated with- out a substantial loss of its existing patronage. The term "existing patronage" as used in connection with nonprofit organizations in- cludes the p~rsons, community or cliel1cele served or affected by the activities of the nonprofit organization. b. That the nonprofit ,organization is not part of a commer- cial enterprise having at least one other establishment not being acquired which is engaged in the same or similar activity. 4.5 Net earninqs. The term "average annual net earnings" as used in Section 7262(c) means one-half of any net earnings of the busi- ness or farm operation, before Federal, State, and local income taxes, during the two taxable years i~~ediatcly preceding the tax- able year in which such business or farm operation moves from the real property acquired for such project, or during such other period as the head of the displacing agency determines to be more equitable for establishing such earnings, and includes any compen- sation paid by the business or farm operation to the owner, his spouse or his dependents during such period. If a business or .farm operation has no net earnings, or has suffered losses during the period used to compute "average annual net earnings" it may nevertheless receive the $2,500 minimum payment authorized by such Section. 4.6 Amount of Business Fixed Pavrnent. The fixed payment to a per- son displaced from a farm operation or from his place of business, including nonprofit organizations, shall be in an amount equal to the average annual net earnings of the business or farm operation, except that such payment shall not be less than $2,500 nor more than $10,000. . 11-12 Db