80B - LOAN AGMTS 703 N LACY 702 S RAITT

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RESIDENTIAL ANTIDISPLACEMENT PLAN Background Part of the relocation planning process requires that grantees receiving federal CDBG, Section 108 loan funds or HOME assistance must assure that they have taken all reasonable steps to minimize the displacement of persons as a result of activities assisted with these funds. The Developer will be applying for, and hopes to use, HOME funds for the proposed Project. Consequently, the entire Project, including its initial and subsequent phases, is subject to HUD regulations governing relocation and minimization of displacement. These regulations are found in Section 104(d) of the Housing and Community Development Act of 1974, (the Act) as amended [42 United States Code, Section 5304(d)] and implementing regulations at 24 Code of Federal Regulations, Part 42. After an extensive search to find properties, which would minimize the need to displace/relocate individuals and could be purchased at an economically feasible price, Developer staff concluded that the proposed site would result in the least amount of residential displacement and meet the other criteria. The amount of relocation has been reduced to two permanent residential displacements. Thus, displacement of residential occupants is avoided to the extent possible. One-for-One Replacement Units The Developer will replace all occupied and vacant occupiable lower income housing demolished or converted to a use other than lower income housing in connection with funds provided under the HOME loan program. All replacement housing will be provided within four years after the commencement of the demolition or conversion. Before entering into a contract committing the Developer to provide funds for a project that will directly result in demolition or conversion, the Developer will make public by publication in a newspaper of general circulation and submit to HUD the following information in writing: 1. A description of the proposed assisted project; 2. The address, number of bedrooms and location on a map of lower income housing that will be demolished or converted to a use other than as lower income housing as a result of an assisted project; 3. A time schedule for the commencement and completion of the demolition or conversion; 4. To the extent known, the address, number of bedrooms and location on a map of the replacement housing that has been or will be provided; 5. The source of funding and a time schedule for the provision of the replacement housing; Overland, Pacifzc & Cutler, Inc. 80B-55