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First Street Apartments Project <br />Relocation Plan <br />3) Construction and installation costs for exterior signing to advertise <br />the business; <br />4) Redecoration or replacement of soiled or worn surfaces at the <br />replacement site, such as paint paneling or carpeting; <br />5) Advertisement of replacement location; <br />6) Estimated increased costs of operation during the first two years at <br />the replacement site for such items as: <br />a. Lease or rental charges <br />b. Personal or real property taxes <br />c. Insurance premiums, and <br />d. Utility charges, excluding impact fees <br />7) Other items essential to the reestablishment of thebusiness. <br />2. Self -Moves <br />If the displaced business elects to take full responsibility for the move of the business, the <br />Developer will make a payment for the business's moving expenses in an amount not to <br />exceed the lower of two acceptable bids or estimates submitted to the Developer. At the <br />Developer's discretion, a payment for a low cost or uncomplicated move may be based <br />on a single bid or estimate. <br />3. A Fixed Payment in Lieu of a Payment for Actual Reasonable Moving and <br />Related Expenses <br />The option to claim a fixed payment enables both for -profit and non - profit businesses to <br />receive relocation assistance compensation without providing documentation of bids and <br />actual expenses. The payment amount available to any individual business is based on an <br />average of annual net earnings over a two year period. For businesses which have not <br />been in operation for two years, income figures can be annualized. The method for <br />establishing income is through tax returns and/or certified financial statements. The <br />payment to an eligible business may not be less than $1,000, or more than$40,000. <br />To qualify for this payment, it must be determined that, a displaced business: <br />owns or rents personal property, which must be moved in connection with such <br />displacement and for which an expense would be incurred in suchmove; <br />is not operated at the displacement site solely for the purpose of renting the <br />dwelling or site to others; <br />16 <br />55F -23 <br />