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<br />6) Covered residents are entitled to some compensation for the losses they will incur from the <br />closing of the park. <br /> <br />a. If the Manufactured Home can be moved from the park, the resident shall receive, at <br />the resident’s option, either: <br />• Actual moving costs for a location within 60 miles, using the most direct and <br />economical route (retroactive payment, after moving); or <br />• A flat amount (paid in advance of the closing) at the following rate: $11,000 for a <br />single wide home, $17,000 for a double wide home, and $21,000 for a triple wide <br />home. These amounts shall be periodically adjusted by the City Manager (Eugene <br />or Springfield) or the Lane County Administrator to reflect changes in the Consumer <br />Price Index. <br /> <br />b. If the Manufactured Home cannot be moved, for whatever reason, the resident shall <br />receive (paid in advance of closing), at the resident’s option, either: <br />• A payment equal to the real market value, of the Manufactured Home, as <br />determined by the assessor plus a flat amount for moving costs of personal property <br />(set by the HPB and adjusted by the City Manager or County Administrator for <br />inflation); or <br />• A flat amount will be the same as determined by the federal government for <br />relocation compensation. A single wide will be considered equivalent to a two room <br />home, a double wide will be equivalent to a three room home, and a triple wide <br />equivalent to a four room home <br />• Payment shall, in either case, be paid after deducting a portion of the owner’s costs <br />to dispose of the abandoned Manufactured Home. The deduction payment for <br />disposing of a single wide shall be $1,000; double wide, $2,000 and triple wide, <br />$3,000. The City Manager or County administrator can periodically adjust these <br />amounts to reflect changes in the Consumer Price Index. <br /> <br /> <br />HB 2735: <br />Landlord must pay each resident in advance of moving <br /> a. $5,000 for a single-wide MH <br /> b. $7,000 for a double-wide <br /> c. $9,000 for a triple or larger <br /> <br />Payments in are to be adjusted annually per CPI by OHCS <br /> <br /> <br />Payments are not taxable income to the resident <br /> <br /> <br />7) The closing park owner should pay the compensation required by #6, minus any state <br />subsidy (primarily the state tax credit, which will require amendment of state law). <br /> <br />a. In addition, the local government shall give the owner credit for System <br />Development Charges. <br /> <br /> L:\CMO\2007 Council Agendas\M070611\S070611B.doc <br /> <br />