relocation payments

relocation payments Sec. 516. Section 114(e) of the Housing Act of 1049 is amended— (1) by striking out the first sentence of paragraph (2) and inserting in lieu thereof the following: “In addition to any amount under paragraph (I), a local public agency may pay to or on behalf of any displaced family, displaced individual sixty- two years of age or over, or displaced handicapped individual, monthly payments over a period not to exceed twenty-four months in an amount not to exceed $500 in the first twelve months and $500 in the second twelve months to assist such displaced family or individual to secure a decent, safe, and sanitary dwelling.”; (2) by striking out “relocation adjustment” in the second sentence of paragraph (2) and inserting in lieu thereof “additional”; (3) by striking our the second proviso in paragraph (2) and inserting in lieu thereof the following: “: Provided further, That additional payments under this paragraph may be paid on a lump sum or other than monthly basis in cases in which the small size of the payments that would otherwise be required do not warrant a number of separate payments or in other eases in which other than monthly payments are determined warranted by the Secretary: And provided further, That no payment received under this paragraph shall lie considered as income for the purpose of determining the eligibility or the extent of eligibility of any person for assistance under the Social Security Act or any other Federal Act”; and (4) by inserting a new paragraph (3) as follows: “(3) In addition to any amount under paragraph (1), a local public, agency may make a payment to a displaced family or individual, who does not receive the additional payment authorized under paragraph (2) and who is the owner of real property which is acquired for a project assisted under this title and which is improved by a single- or two-family dwelling occupied by the owner for a period of not less than one year prior to the initiation of negotiations for the acquisition of such property. Such payment, not to exceed $5,000, shall be an amount which, when added to the acquisition payment, equals the average price required for a decent, safe, and sanitary dwelling of modest standards adequate in size to accommodate the displaced owner, reasonably accessible to public services and places of employment and available on the private market: Provided, That such payment may be made only to a displaced owner who purchases and occupies a dwelling within one year subsequent to the date on which he is required to move from the dwelling acquired for the project: Provided further, That no such payment may be made if the owner-occupant receives a payment required by the State law of eminent domain which is determined by the Secretary to have substantially the same purpose and effect as this paragraph and to lie part of the cost of the project for which Federal financial assistance is available.”