(c) Higher relocation fee required where owners proceed under subsection 5-15-050(a)(2). In situations where an SRO is scheduled to be sold or otherwise transferred pursuant to the terms described in subsection requirements described in subsection 5-15-050(a)(2), in addition to complying with the 5-15-060(b), the owner shall pay each displaced long-term resident a supplemental one-time relocation assistance fee in the amount of $8,600.00.
(d) Higher relocation fee required if property vacated due to unsafe conditions. In the event the City vacates an SRO due to unsafe building conditions, or a court orders an SRO vacated due to unsafe building conditions: (1) the owner shall provide, within 14 days, a one-time relocation assistance fee of $10,600.00 to each person who was a resident of the SRO at the time of the execution of the order to vacate; and (2) if the owner subsequently transfers or sells the property, he shall be required to fulfill the requirements of Section 5-15-050(a), regardless of how much time passes between the execution of the order to vacate and the sale or transfer. In this situation, the term "resident" in Section 5-15-050(a) shall be interpreted to mean "resident of the SRO at the time of the execution of the order to vacate". Subsection 5-15-060(d)(1) does not apply where the unsafe building conditions are caused by fire or casualty, unless the damaging event is directly caused by the owner.
(Added Coun. J. 11-12-14, p. 97375, § 2; Amend Coun. J. 11-14-18, p. 90308, Art. I, § 34)