§ 14-3-7. RENTAL ASSISTANCE BENEFIT.

(A)

A displaced person is eligible for a rental assistance benefit to assist the displaced person in renting a comparable property only as provided in this section.

(B)

To be eligible for a rental assistance benefit, a displaced person must have continuously resided at the dwelling from which the person is displaced for not fewer than 90 days or more than 180 days.

(C)

Notwithstanding any other provision of this chapter, a rental assistance benefit may not exceed $5,250.

(D)

Except as provided by Subsection (E), a rental assistance benefit is the amount determined by subtracting from the amount reasonably necessary to rent a comparable property for the next four years an amount equal to 42 times the average monthly rental paid by the displaced person during the last three months.

(E)

If the average monthly rental being paid by a displaced tenant exceeds 30 per cent of the monthly gross income of displaced tenant or of the displaced tenant's household, a rental assistance benefit is the amount determined by subtracting 12 times the average monthly income of the displaced tenant from the greater of:

(1)

42 times the monthly rental determined by the city manager as necessary to rent a comparable property; or

(2)

42 times the monthly rental the displaced tenant would be required to pay if the displaced tenant relocated to publicly subsidized rental housing.

(F)

The city manager may establish a schedule of rental rates for comparable properties in the local market. If the city manager establishes a schedule of rents, the schedule must be based on an analysis of the market and periodically updated.

(G)

The city manager may determine the reasonable rental rate of a comparable property by pricing at least three properties comparable to the property acquired by the City that are available on the private market.

Source: 1992 Code Sections 15-8-5, 15-8-7, and 15-8-8; Ord. 031204-12; Ord. 031211-11.