Section 15-24-35 - Replacement housing payment to tenant-occupants for not less than ninety days who purchase(a) A displaced tenant of property acquired by any governmental agency shall be eligible for a replacement housing payment; provided that the tenant-occupant has been in occupancy for more than 90 days prior to the first written offer to purchase the property, or if the displaced tenant moves in "reasonable expectation" the tenant shall have been in occupancy for more than 90 days prior to the date of the move; and provided further that the tenant has purchased and occupied a comparable dwelling not later than one year subsequent to the date on which the tenant was required to move from the dwelling unit acquired.(b) The payment, not to exceed $1,500, shall be the amount necessary to make a down payment on a comparable dwelling. Determination of the amount necessary for the down payment shall be based on the amount that the displaced tenant would have had to pay if the purchase of a comparable dwelling was financed by a conventional loan.(c) The full amount of the replacement housing payment shall be applied to the down payment, including closing costs.(d) If a tenant who otherwise qualifies for a payment under this section has previously received a payment under § 15-24-34, the amount of the prior payment shall be deducted from the amount the tenant is otherwise eligible for under this section.[Eff 2/11/91] (Auth: HRS §§ 206E-4; 206E-10.5) (Imp: HRS §§ 206E-4; 206E-10.5)
§ 15-24-35 is based substantially upon § 15-18-14. [Eff 9/22/84; R 2/11/91]