In addition to payments otherwise authorized, the department shall make an additional
payment not in excess of $22,500 to any displaced person who is displaced from a dwelling
actually owned and occupied by the displaced person for not less than 180 days prior
to the initiation of negotiations for the acquisition of the property. The additional
payment shall include the following elements:
A. The amount, if any, which when added to the acquisition cost of the dwelling acquired
by the department equals the reasonable cost of a comparable replacement dwelling.
All determinations required to carry out this paragraph shall be made in accordance
with standards established by the department; [1989, c. 208, §§13, 21 (AMD).]
B. The amount, if any, which will compensate the displaced person for any increased
interest costs and other debt service costs which that person is required to pay for
financing the acquisition of any such comparable replacement dwelling. The amount
shall be paid only if the dwelling acquired by the department was encumbered by a
bona fide mortgage which was a valid lien on the dwelling for not less than 180 days
prior to the initiation of negotiations for the acquisition of that dwelling. In
calculating the amount to be paid under this section, increased interest costs and
other debt service costs shall be reduced to discounted present value. The payment
shall be an amount which will reduce the mortgage balance on the replacement dwelling
to an amount which could be amortized with the same monthly payment for principal
and interest as that for the mortgage on the displaced dwelling; and [1989, c. 208, §§13, 21 (AMD).]
C. Reasonable expenses incurred by the displaced person for evidence of title, recording
fees and other closing costs incident to the purchase of the replacement dwelling,
but not including prepaid expenses. [1989, c. 208, §§13, 21 (AMD).]
1989, c. 208, §§13, 21 (AMD)
The additional payment authorized by subsection 1 shall be made only to a displaced
person who purchases and occupies a replacement dwelling which is decent, safe and
sanitary not later than the end of the one-year period beginning on the date on which
the displaced person receives from the department final payment of all costs of the
acquired dwelling, or the date on which the department meets its obligation under
section 244-C, whichever is later, except that the department may extend the period
for good cause. If the period is extended, the payment under this section shall be
based on the costs of relocating the person to a comparable replacement dwelling within
one year of the date otherwise designated in this subsection.
1989, c. 208, §§14, 21 (AMD)
The department is authorized to negotiate with any federal agency for any mortgage
insurance protection available to a displaced person to insure any mortgage on a comparable
replacement dwelling executed by a displaced person assisted under this section.
1971, c. 593, §22 (AMD)
The additional payment authorized by subsection 1 may be made to the displaced person
while determination of the acquisition cost of the dwelling is either unsettled or
is pending before the State Claims Commission or the Superior Court. Such a payment
is not authorized until and unless an agreement between the Department of Transportation
and the displaced person is signed which shall authorize withholding from any subsequent
award by the State Claims Commission or judgment of the court any amount determined
from the agreement to be refunded by the displacee to the department by reason of
the award or judgment being in excess of the determined net damage and offering price
paid pursuant to section 154. A copy of the agreement shall be filed with the State
Claims Commission with the petition or within 10 days after it is signed if the petition
is already filed and a copy shall be filed in any subsequent case appealed to the
Superior Court with the complaint or answer, or both. The State Claims Commission
and court shall take judicial notice of the facts set forth in such agreement.
1987, c. 395, Pt. A, §103 (AMD)
1971, c. 333, §1 (NEW).
1971, c. 593, §22 (AMD).
1973, c. 22, §3 (AMD).
1981, c. 470, §§A134,A135 (AMD).
1987, c. 395, §A103 (AMD).
1989, c. 208, §§13,14,21 (AMD).
Data for this page extracted on 10/06/2014 09:03:15.
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