55A - RESO - SA ARTS COLLECTIVE PROJ

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Relocation Plan for Santa Ana Arts Collective — 1666 North Main, Santa Ana, California or real property taxes, c) Insurance premiums, and d) Utility charges, excluding impact fees; Other items essential to the reestablishment of the business. If the displaced business elects to take full responsibility for the move of the business, the Developer will make a payment for the business's moving expenses in an amount not to exceed the lower of two acceptable bids or estimates submitted to the Developer. At the Developer's discretion, a payment for a low cost or uncomplicated move may be based on a single bid or estimate. 2, A Fixed Payment In Lieu ofA Payment For Actual Reasonable Moving and Related Expenses The option to claim a fixed payment in -lieu of actual reasonable moving and related expenses enables both for - profit and non - profit businesses to receive relocation assistance compensation without providing documentation of bids and actual expenses. The payment amount available to any individual business is based on an average of annual net earnings over a two year period. For businesses which 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, nor more than $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 site to others; ➢ cannot be a part of a commercial enterprise having at least three other establishments which are not being acquired by the Developer, 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 to the income of the displaced person during the two taxable years prior to displacement. D. General Information on Payment of Relocation Benefits Claims and supporting documentation for relocation benefits must be filed with the Developer within 18 months from: ➢ the date the claimant moves from the acquired property; or, ➢ the date on which final payment for the acquisition of real property is made, whichever is later. 55A -21