55F - RESO - FIRST ST APARTMENTS

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First Street Apartments Project Relocation Plan paid from private debt from a to- be- determined lender. The procedure for the preparation and filing of claims, and the processing and delivery of payments, will be as follows: Claimant(s) will provide all necessary documentation to substantiate eligibility for assistance; 2. Relocation staff will review all necessary documentation including, but not limited to, income verification, lease documents, move estimates, and escrow material before reaching a determination as to which expenses are eligible for compensation; 3. Required claims forms will be prepared by relocation staff and presented to the claimant for review. Signed claims and supporting documentation will be returned to relocation staff and submitted to the Developer and City staff; 4. City staff will review and approve claims for payment, or request additional information; 5. The Developer will issue benefit checks to claimants in the most secure, expeditious manner possible; 6. Final payments to residential displacees will be issued after confirmation that the Project premises have been completely vacated and actual residency at the replacement unit is verified; 7. Receipts of payment and all claims materials will be maintained in the relocation case file. E. LAST RESORT HOUSING Based on data derived from the surveys and analyses of the occupants in the Project area and costs of replacement housing resources, it is anticipated that "comparable replacement housing" will not be available as required for the residential tenants. Specifically, for renters, when the computed replacement housing assistance eligibility exceeds $7,200 or replacement dwelling monthly rental costs (including utilities and other reasonable recurring expenses) exceeds 30% of the person's average monthly income. Therefore, if the Project proceeds, the Developer will authorize sufficient funds to provide housing of last resort. Due to the demonstrated number of available replacement housing resources for all households, as shown above in Section III, B - 1, the need to develop a replacement housing plan to produce sufficient number of comparable replacement dwellings will not be necessary. Rather, funds will be used to make payments in excess of the monetary limits specified in the statute ($7,200); hence, satisfying the requirement that `comparable replacement housing" is available. 21 55F -28