22.210.110 - Owner's contribution to relocation assistance
A.
The owner of a dwelling unit to be demolished, changed in use, or substantially rehabilitated,
or from which rent or income restrictions will be removed, is responsible for payment
of one-half of the total amount of relocation assistance due to eligible tenants pursuant
to this Chapter 22.210. The City is responsible for payment of the remaining one-half of the relocation
assistance.
B.
1.
Within five days after receipt by the owner of the notice of tenant eligibility pursuant
to subsection 22.210.100.C, the owner shall provide the Director with a cash deposit
or a security instrument in the form of an irrevocable letter of credit with terms
acceptable to the Director equal to one-half of the amount of total relocation assistance
to be paid to eligible tenants in the dwelling units to be demolished, changed in
use, or substantially rehabilitated, or from which rent or income restrictions will
be removed. The total relocation assistance shall be calculated based on the number
of units occupied by tenant households who are determined by the Director to be eligible
for relocation assistance, as modified by any decisions by the Hearing Examiner or
a court concerning eligibility for relocation assistance at the time of payment of
the owner's share of relocation assistance.
2.