1974-03 CRA - Laserfiche WebLink

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, , the schedule) and subtracting from such amount forty-eight ti~es the,'average month I s rent paid by the displaced tenant in the last three months prior to initiation of negotiation if such rent was reasonable. Agency regulations may prescribe circumstances which may dictate the use of economic rather than actual rent paid by the displaced tenant. For purposes of these Guidelines; economic rent is defined as the amount of rent the displaced tenant would have had to pay for a comparable dwelling unit in an area similar to the neighborhood in which the dwelling unit to be acquired is located. The schedule should be based on current analysis of the market to determine the amount of each type of dwelling required. When more than one public agency is causing the displacement in a community or an area, the agency heads shall cooperate in choosing the method for computing the replacement housing payment and shall use uniform schedules of average rental housing in the community . or area. ') I (2) Comparative method. The agency may determine that average month's rent by selecting one or more dwellings most repre- sentative of the dwelling unit acquired, which is available to the displaced person and meets the definition of a comparable replace- ment dwelling as described in paragraph 5.2 The payment should be computed by determinig the amount necessary to rent a compara- ble replacement dwelling for four years and subtracting from such amount forty-eight times the average month's rent paid by the dis- pl'aced tenant in the last three months prior to initiation of negotiations, if such rent was reasonable. Agency regulations may prescribe circumstances which may dictate the use of economic rather than actual rent paid by the displaced tenant. (3) Exceptions. The head of the public agency may estab- lish the average month's rent paid by the displaced person by using more than three months, if he deems it advisable. If rent is being paid to the displacing agency, economic rent shall be used in determining the amount of the payment to which the displaced tenant is entitled. I ... (4) Alternate to (1) and (2) above. When neither method is feasible, the head of the public agency shall develop criteria for computing the payment. (5) Disbursement of rental replacement housing paYment. The head of the public agency should develop procedures to imple- ment Section 7264 to provide, within the $4,000 and four-year limi- tations of such section, a rental replacement housing payment that will enable the displacee to rent comparable decent, safe and sani- tary housing. The public agency should develop criteria for a determination as to the manner of disbursement, that is, lump sum payment, and/or annual installments, or monthly payments. . . 11- 20 310