55A - RESO - BRISTOL ST RELOCATION PHASE 3A

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annual net earnings over a two -year period. For businesses that have not been in operation for two years, income figures can be annualized. The method for establishing income is through tax returns and /or certified financial statements. The payment to an eligible business may not be less than $1,000, or more than $40,000. The MAP -21 amended the maximum statutory fixed payment for non - residential moves to $40,000. To qualify for this payment, it must be determined that, a displaced business: • Owns or rents personal property, which must be moved in connection with such displacement and for which an expense would be incurred in such move; • Is not operated at the displacement site solely for the purpose of renting the dwelling or the site to others; • Cannot be a part of a commercial enterprise having at least three other establishments which are not being acquired by the City, and which is under the same ownership and engaged in the same or similar business activities; • Must not be able to relocate without substantial loss of patronage; and • Contributed materially, as defined by the City, to the income of the displaced person during the two taxable years prior to the displacement. When a fixed payment would precede settlement of a claim for compensation for loss of goodwill under the Eminent Domain Law, the City, before tendering payment, shall state in writing what portion of the payment, if any, is considered to be compensation for loss of goodwill and shall explain in writing that any payment made pursuant to Code of Civil Procedure, §1263.510 et seq. (the Eminent Domain Law, Chapter g, Article 6 — "Compensation for Loss of Goodwill ") would be reduced in the same amount. The portion considered to be compensation for loss of goodwill shall not exceed the difference between the fixed payment made and an amount which reasonably approximates the payments for which the displaced person otherwise would be eligible to receive as outlined in Section IV.E.1, above. Information F. General Regarding the Payment of Relocation Benefits Claims and supporting documentation for relocation benefits must be filed with the City no later than 18 months after: • For tenants, the date of displacement; or • For owners, the date of displacement or the date on which final payment for the acquisition of real property is made, whichever is later. The procedure for the preparation and filing of claims and the processing and delivery of payments would be as follows: 1. Claimant(s) would provide all necessary documentation to substantiate eligibility for assistance; 2. Relocation staff would review all necessary documentation including, but not limited to, scopes -of- services, contractor bids, invoices, lease documents and escrow material before reaching a determination as to which expenses are eligible for compensation; 23 55A -35