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The Station District Project <br />6. Final payments to residential displacees will be issued after confirmation that the <br />Project premises have been completely vacated and actual residency at the <br />replacement unit is verified; <br />7. Receipts of payment and all claim material will be maintained in the relocation <br />case file. <br />E. LAST RESORT HOUSING <br />Based on data derived from the surveys and analyses of the occupants in the Project area and <br />costs of replacement housing resources, it is anticipated that "comparable replacement housing" <br />will not be available as required. Specifically, for renters, when the computed replacement <br />housing assistance eligibility exceeds $5,250 or replacement dwelling monthly rental costs <br />(including utilities and other reasonable recurring expenses) exceeds 30% of the person's <br />average monthly income, Last Resort Housing will have to be provided. <br />Therefore, if the Project is to go forward, the Agency will authorize its funds or funds authorized <br />for the Project to provide housing of last resort. Funds will be used to make payments in excess <br />of the monetary limit specified in the statute ($5,250); hence, satisfying the requirement that <br />"comparable replacement housing" is available. <br />A displaced tenant household will be entitled to consideration for supplementary benefits in the <br />form of Last Resort Housing assistance when the computed replacement housing assistance <br />eligibility exceeds $5,250 or replacement dwelling monthly rental costs (including utilities and <br />other reasonable recurring expenses) exceed 30% of the person's average monthly income <br />(financial means) or when a tenant fails to meet the 90-day occupancy requirement and <br />comparable replacement rental housing is not available within the displaced person's financial <br />means. Calculations of Last Resort rental assistance benefits for tenants who fail to meet the 90- <br />day occupancy requirement will be based solely on household income. Non 90-day qualifiers <br />must meet basic eligibility requirements applied to all other displacees. <br />For owner-occupants/homeowners, if there is not enough "comparable replacement housing" <br />available (related to purchase price), the displacing entity shall pay whatever costs are necessary <br />beyond the statutory cap of $22,500 to acquire a "comparable replacement" unit, including <br />reasonable incidental expenses. <br />The Agency, at its discretion, may opt to pay Last Resort Housing payments in installments or in <br />a lump sum. Recipients of Last Resort rental assistance, who intend to purchase rather than re- <br />rent replacement housing, will have the right to request a lump sum payment of all benefits in the <br />form of downpayment assistance. Tenant households receiving periodic payments will have the <br />option to request a lump sum payment of remaining benefits to assist with the purchase of a <br />decent, safe and sanitary dwelling. <br />18 <br />55A-23