7.4. HRSR 04-06-2020 - Laserfiche WebLink

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EXHIBIT C FORM OF WAIVER OF RELOCATION BENEFITS The undersigned, acknowledge that we met with a representative of e us and Redevelopment Authority of the City of Elk River, Minnesota (HRA) on 2020. The representative, Amanda Othoudt, explained that in the event that the HRA acquires our property located at 419 3rd Street NW, Elk River, Minnesota, we may be entitled to certain relocation benefits, in addition to the amount of money being paid to us to acquire our property. These benefits may include: 1. Moving Expenses: a. A payment for actual reasonable moving expenses; or b. A fixed payment determined in accordance with the applicable schedule approved by the Federal Highway Administration. 2. Replacement Housin_ Pay »gent: A 180 -day homeowner is eligible to receive a replacement housing payment to cover the following costs: a. If the homeowner must pay more to buy a comparable replacement home than homeowner receives for the property, then homeowner may be compensated for the difference. b. Homeowners may be entitled to compensation for incidental and closing expenses related to the purchase of a decent, safe, and sanitary replacement home, such as recording fees, title insurance, appraisal, and inspection fees. C. If a homeowner must pay a higher interest rate on a mortgage to finance the purchase of a replacement home than the rate on the mortgage of the property, then homeowner may be entitled to compensation for increased mortgage interest costs. Other Relocation Assistance: This includes referrals and other assistance to help the owner(s) relocate to a comparable decent, safe, and sanitary dwelling. These payments and services are required under the regulations of the Department of Housing and Urban Development (HUD). The owner(s) cannot be required to move from his/her home unless he/she is given reasonable opportunities to relocate to a comparable decent, safe and sanitary dwelling unit that he/she can afford. C-1