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ALTERNATE C <br /> <br /> CITY OF ELK RIVER, MINNESOTA <br /> ORDINANCE NO. <br />SECTION 1010 <br />MANUFACTURED HOME PARK CLOSINGS <br /> <br />Base Ordinance, plus new Section below: <br /> <br />SECTION 1010.14_ <br />COM~ENSATIQN. <br /> <br />LIMITATION OF KELOCATION COSTS AND ADDITIONAl. <br /> <br /> The total amount of relocation costs and additional compensation to be paid to displaced <br />residents pursuant to Sections 1010.10 and 1010.12 of this Chapter shal/not exceed the greater of <br />twenty percent (20%) of the estimated market value of the manufactured home park, as stated in the <br />real estate tax statement for the year in which the closure statement is filed with the City, or twenty <br />percent (20%) of the sale price of the manufactured home park and any land contiguous to the mobile <br />home park also sold to the person purchasing the mobile home park. If the total of the relocation <br />costs and additional compensation payable to displaced residents under Sections 1010.10 and 1010.12 <br />of this Chapter exceeds this limitation, the relocation costs or additional compensation payable to <br />each displaced resident shall be decreased proportionately so that the total of relocation costs and <br />additional compensation does not exceed the limitation stated in this Section. <br /> <br />SE! I ;~D $05417.3 <br /> <br /> <br />