Section 4: Amount of Total Payment
Anchor: #i1003199Replacement Housing Payment
The replacement housing payment is an amount not to exceed $31,000, which is the sum of:
- Anchor: #HVMVETPU
- the amount by which the probable cost of a replacement dwelling exceeds the acquisition cost of the displacement dwelling, as determined according to provisions for computing replacement housing supplements; Anchor: #EPRDINCC
- the amount necessary to compensate the displaced person for any increased interest costs and other debt service costs incurred in connection with the mortgage(s) on the replacement dwelling, according to the policies and procedures for increased interest payments; and Anchor: #XVCSKXUO
- the amount of reasonable expenses incidental to purchase of the replacement dwelling.
If the sum of the replacement housing payment (computed supplement), increased interest costs, and incidental expenses exceed $31,000, handle the payment under provisions of Last Resort Housing.
Anchor: #i1003236Rental Assistance Payment
A 90-day owner eligible for a replacement housing payment described in the preceding subsection who rents a replacement dwelling is eligible for a payment not to exceed the price differential option, except as provided in Last Resort Housing. Compute the payment according to policies and procedures for rental supplements.