The owner of residential property converted to the condominium or cooperative form
of ownership shall pay to any tenant who is entitled to receive a notice pursuant
to this section and who does not purchase the housing accommodation which he occupies
or another housing accommodation in the same building or buildings relocation benefits
for the actual, documented costs of moving, not to exceed seven hundred fifty dollars
($750.00) per housing accommodation; provided, that if such housing accommodation
is occupied in whole or in part by a handicapped tenant or is occupied by an elderly
or low or moderate income tenant the maximum relocation benefit shall not exceed one
thousand dollars ($1,000.00) per housing accommodation. Such relocation benefits shall
be payable within ten (10) days after the date on which the tenant vacates the housing
accommodation occupied by him; provided, however, that no tenant shall be eligible
for such relocation benefits unless all rent due and payable for said unit under the
rental agreement or extension of such agreement, if any, has been paid by the tenant
prior to the date on which the housing accommodation is vacated and only as long as
the tenant voluntarily vacates the housing accommodation for which recovery of possession
is sought on or before the expiration of the notice period.
(4)