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First Street Apartments Project <br />Relocation Plan <br />k. The modification of machinery, equipment or other personal property necessary <br />to adapt these to the replacement location or to utilities available at the <br />replacement location; <br />1. Relettering signs and replacing stationary on hand at the time of displacement that <br />is made obsolete as a result of the move; <br />m. Actual direct losses of tangible personal property resulting from moving or <br />discontinuing a business or non - profit organization, not -to- exceed the lesser of: <br />(1) the fair market value of the property for continued use at its location prior to <br />displacement less any proceeds from sale of the property; or, (2) an amount equal <br />to the reasonable expenses that would have been required to relocate the property, <br />as determined by the Developer, subject to certain limitations; <br />n. Actual and reasonable expenses incurred in searching for a replacement business <br />or non - profit organization location, not -to- exceed $2,500, and including <br />compensation for transportation expenses; time spent searching for a reasonable <br />location, meals, and lodging; real estate broker or agent fees; time spent in <br />obtaining permits and attending zoning hearings; and time spent negotiating the <br />purchase of a replacement site; <br />o. Impact fees or one -time assessments for anticipated heavy utilityusage; <br />P. Low Value/High Bulk: when the personal property to be moved is of low value <br />and high bulk, and the cost of moving the property would be disproportionate to <br />its value in the judgment of the Developer, the allowable moving cost payment <br />shall not exceed the lesser of (1) the amount which would be received if the <br />property were sold at the site or (2) the replacement cost of a comparable quantity <br />delivered to the new business location. Examples of personal property covered by <br />this provision include, but are not limited to, stockpiled sand, gravel, minerals, <br />metals and other similar items of personal property as determined by the <br />Developer; <br />q. A Reestablishment allowance of up to $25,000, available to farms, nonprofit <br />organizations and small businesses with no more than 500 employees. <br />Reestablishment allowance payments are made in addition to compensation <br />provided for actual, reasonable and necessary moving expenses. Reestablishment <br />allowance expense categories include but are not limited to: <br />1) Repairs or improvements to the replacement property as required <br />by Federal, State or local law, code or ordinance; <br />2) Modifications to the replacement property to accommodate the <br />business operation or make replacement structures suitable for <br />conducting business; <br />15 <br />55F -22 <br />