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<br />ORDINANCE NO. <br />Page 5 <br /> <br />(D) The park owner shall make the payments under this Section directly to the person <br />performing the services, or, upon submission of written evidence of payment of <br />reasonable relocation costs by a displaced resident, shall reimburse the displaced <br />resident for said costs. <br /> <br />3-12-8: <br /> <br />PAYMENT OF ADDITIONAL COMPENSATION: <br /> <br />(A) If a displaced resident cannot relocate the mobile home within a twenty-five (25) <br />mile radius of the park that is being closed, the displaced resident is entitled to <br />additional compensation to be paid by the park purchaser, in order to mitigate the <br />adverse financial impact of the park closing. <br /> <br />(B) If the displaced resident tenders the title to the mobile home ftee and clear of all <br />liens and encumbrances, the additional compensation shall be the fair market value <br />of the home as determined by an independent licensed appraiser selected by the <br />City Manager or designee. The park purchaser shall pay the actual cost of the <br />appraisal. The park purchaser shall pay the additional compensation into an <br />escrow account, established by the park owner, for distribution upon transfer of <br />title to the mobile home. The additional compensation shall be paid to the <br />displaced residents no later than thirty (30) days prior to the park closure, <br />conversion to another use, or termination of use as a mobile home park. <br /> <br />3-12-9: <br /> <br />LIMIT A TION ON TOTAL COMPENSATION: <br /> <br />The total compensation to be paid to displaced residents pursua~tAo Sections 3-12- <br />7 and 3-12-8 by the park owner and park purchaser shall not exceed,;tWenty percent (20%) <br />of the purchase price of the park, or twenty percent (20%) of the estimated fair market <br />value of the park as most recently determined by the County Assessor, whichever value is <br />greate0f the total compensation payable to displaced residents exceeds the twenty <br />percent (20%) limitation, the reasonable relocation costs or additional compensation shall <br />be decreased proportionately so that the total of reasonable relocation costs and additional <br />compensation does not exceed the twenty percent (20%) limitation. The City Council <br />shall determine at the public hearing if the total compensation to be paid may reasonably <br />be expected to exceed the twenty percent (20%) limitation. The park owner has the <br />burden of proof. If the City Council finds the twenty percent (20%) limitation may be <br /> <br />49126.02 <br />EBK:03/26/97 <br /> <br />5 <br />