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<br />Example: <br /> <br />Cost of new home in St. Louis <br />Fair market value of home in Franklin County <br />Structure $18,000 <br />Land $1,000 <br /> <br />$35,000 <br />$19,000 <br /> <br />Formula for determining replacement housing grant: <br /> <br />Homeowner receives <br />Plus: <br />Total Buyout Offer: <br /> <br />$35,000 <br />($1,000) <br />$34,000 CANNOT EXCEED $22,500 <br /> <br />$22,500 <br />$ 1.000 <br />$23.500 <br /> <br />Cost of new home: <br />Less: land at old site: <br />Replacement Grant: <br /> <br />Renter Relocation Assistance Grant <br /> <br />1. Renters MAYbe eligible for relocation assistance should a property they reside in be <br />acquired by the city through the flood buyout program. <br />2. The maximum renter relocation assistance grant may not exceed $5,250 plus the cost to <br />move personal property located inside the property. <br />3. It is the responsibility of the property owner or renter to contact the city to determine if a <br />renter is eligible for a grant. <br />4. A Relocation Assistance to Renters worksheet must be completed and certain <br />documentation provided by the renter to determine the level of assistance, if any. <br />5. The payment for moving personal property consists of household furniture and is <br />determined by pre-established government charts based on the number of furnished <br />rooms in the property. <br />6. No renter relocation assistance payment will be provided until the property in the buyout <br />program has been acquired. <br /> <br />Environmental Considerations <br /> <br />Participants in the buyout program must sign a Sales Contract which by signing represents and <br />warrants to the city that: <br /> <br />1. There are no abandoned wells, agricultural drainage wells, solid waste disposal areas or <br />underground storage tanks (as defined in Revised Statutes of Missouri) located in, on or <br />about the property; <br />2. There is and has been no hazardous waste stored, generated, treated, transported, <br />installed, jumped, handled or placed in, on or about the property; <br />3. At no time have any federal or state hazardous waste cleanup funds been expended with <br />respect to any ofthe property; <br />4. There has never been any solid waste disposal site or underground storage tank located <br />in, on or about the property, nor has there been any release from any underground storage <br />tank on real property contiguous to the property which has resulted in any hazardous <br />substance coming in contact with the property; <br /> <br />6 <br />