relocation payments under federally assisted development programs

relocation payments under federally assisted development programs Sec. 404. (a) To the extent not otherwise authorized under any Federal law, financial assistance extended to an applicant under any federally assisted development program may include grants for relocation payments, as herein defined. Such grants may be in addition to other financial assistance under such federally assisted development programs, and may cover the full amount, of such relocation payments. Any funds available for any such program may be used for such grants. The term “relocation payments” means payments by the applicant, to a displaced individual, family, business concern, or nonprofit organization, which are made on such terms and conditions and subject to such limitations (to the extent applicable, but not including the date of displacement) as are provided for relocation payments, at the time such payments are approved, by sections 114(b), (c), and (d) of the Housing Act of 1949 with respect to projects assisted under title I thereof. Relocation payments authorized by this subsection shall be made subject to such rules and regulations as may be prescribed by the Administrator. (b) Section 114(b)(2) of the Housing Act. of 1949 is amended by striking out “$1,500” and inserting in lieu thereof “$2,500”. (c) (1) Section 114 of such Act is further amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the foil owing hew subsection: “(d) In addition to payments authorized to be made under Subsections (b) and (c), a local public agency may pay to any displaced individual, family, business concern, or nonprofit organization reasonable and necessary expenses incurred for (1) recording fees, transfer taxes, and similar expenses incidental to conveying real property to a project assisted under this title, (2) penalty costs for prepayment of any mortgage encumbering such real property, and (3) the pro rata portion of real property taxes allocable to a period subsequent to the date of vesting of title or the effective date of the acquisition of such real property by such agency, whichever is earlier.” (2) Section 15(8) of the United States Housing Act of 1937 is amended by striking out “section 114 (b) or (c)” and inserting in lieu thereof “section 114 (b), (c),and (d)”. (d) Subsection (a) shall not be applicable with respect to any displacement occurring prior to the date of the enactment of this Act (or prior to March 4, 1965, in the case of the programs specified in subparagraphs (C) and (E) of section 401(1)).