25.1-410 - Replacement housing for tenants and certain homeowners. - Virginia Statutes

§ 25.1-410. Replacement housing for tenants and certain homeowners.

A. In addition to amounts otherwise authorized by this article, a stateagency shall make a payment to or for any displaced person displaced from anydwelling not eligible to receive a payment under § 25.1-409 which dwellingwas actually and lawfully occupied by such displaced person for not less than90 days immediately prior to (i) the initiation of negotiations foracquisition of the dwelling or (ii) if the displacement is not a directresult of acquisition, such other event as the agency shall prescribe. Suchpayment shall consist of the amount necessary to enable such displaced personto lease or rent, for a period not to exceed 42 months, a comparablereplacement dwelling, but not to exceed $5,250. At the discretion of theagency, a payment under this subsection may be made in periodic installments.Computation of a payment under this subsection to a low-income displacedperson for a comparable replacement dwelling shall take into account suchperson's income.

B. Any person eligible for a payment under subsection A may elect to applysuch payment to a down payment on, and other incidental expenses pursuant to,the purchase of a decent, safe, and sanitary replacement dwelling. Any suchperson may, at the discretion of the state agency, be eligible under thissubsection for the maximum payment allowed under subsection A, except that ifthe displaced homeowner has owned and occupied the dwelling from which he isdisplaced for at least 90 days but not more than 180 days immediately priorto the initiation of negotiations for the acquisition of such dwelling, suchpayment shall not exceed the payment such person would otherwise havereceived under subsection A of § 25.1-409 had the person owned and occupiedthe displacement dwelling 180 days immediately prior to the initiation ofsuch negotiations.

(1972, c. 738, § 25-241; 1989, c. 714; 2003, c. 940.)