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Adm 92.68(9)(b)5. 5. Relocation and rehabilitation of a dwelling;
Adm 92.68(9)(b)6. 6. Purchase of land or a replacement dwelling by the displacing agency with subsequent sale or lease back to, or exchange with, a displaced person;
Adm 92.68(9)(b)7. 7. Construction of a new dwelling.
Adm 92.68(9)(b)8. 8. Change in occupancy status of the displaced person from tenant to homeowner when it is more cost effective to do so.
Adm 92.68(9)(c) (c) An agency may limit payment to the amount necessary to relocate to a comparable replacement within one year from the date the person is paid for the displacement dwelling, or one year from the date the person is initially offered a comparable replacement dwelling and advised of replacement payment entitlements, whichever is later.
Adm 92.68 History History: Cr. Register, March, 1986, No. 363, eff. 4-1-86; renum. (1) to be (1) (a) and am., cr. (1) (b), (9) (b) 8. and (c), am. (3), Register, November, 1989, No. 407, eff. 12-1-89; corrections made under s. 13.93 (2m) (b) 7., Stats., Register, April, 1996, No. 484; am. (9) (b) (intro.), Register, March, 1997, No. 495, eff. 4-1-97; correction in (2), (3), (4) (a) made under s. 13.92 (4) (b) 7., Stats., Register December 2011 No. 672.
Adm 92.70 Adm 92.70 180-day owner who purchases. An agency shall pay an owner-occupant of a dwelling who purchases a replacement, a payment for the differential cost to purchase a comparable dwelling, for the loss of favorable financing on an existing mortgage or land contract in financing a replacement dwelling, and for expense incidental to the purchase. A payment shall be determined as follows:
Adm 92.70(1) (1)Eligibility requirements. A displaced person shall be eligible for a payment when the person:
Adm 92.70(1)(a) (a) Owns and occupies the property for not less than 180 days immediately before the date of initiation of negotiations for the acquisition of the property, or the date of vacation when given a notice of intent to acquire, whichever is earlier;
Adm 92.70(1)(b) (b) Purchases and occupies a decent, safe and sanitary replacement dwelling within one year from the date the owner received final payment for the acquired property or the date the owner vacates the acquired property, or an extended date established by the agency for good cause, whichever is later. For the purpose of this section a replacement dwelling is purchased when a person:
Adm 92.70(1)(b)1. 1. Acquires an existing dwelling;
Adm 92.70(1)(b)2. 2. Relocates or rehabilitates a dwelling owned or acquired;
Adm 92.70(1)(b)3. 3. Purchases a life estate in a retirement facility;
Adm 92.70 Note Note: The cost shall be the entrance fee plus the present worth of a monetary commitment in a retirement facility to the facility, but may not include a periodic service charge;
Adm 92.70(1)(b)4. 4. Contracts to build or builds a new decent, safe and sanitary dwelling on a site owned or acquired.
Adm 92.70 Note Note: Construction cost, including the value of labor furnished by a displaced person, shall be limited to that cost necessary to purchase a comparable dwelling.
Adm 92.70(2) (2)Differential amount payable. A differential amount payable is an amount, if any, when added to the acquisition payment for an acquired dwelling, equals an amount a person pays for a replacement, or an amount determined by an agency as necessary to purchase a comparable replacement, whichever is less. A replacement payment shall include the cost to modify a property to meet comparable standards or code requirements.
Adm 92.70(3) (3)Selection and cost of comparable and actual replacements. An agency shall determine the cost of a comparable replacement by analyzing 3 or more comparable replacement dwellings, and selecting the one that is the most comparable. Fewer may be analyzed if 3 are not available.
Adm 92.70(3)(a) (a) An agency may adjust the asking price of the selected comparable if considered justified on the basis of local market conditions. The agency's relocation plan shall specify if adjustments will be made for the project, the basis for this determination and the method of adjustment to be used.
Adm 92.70(3)(b) (b) The cost of physical changes or improvements necessary to meet comparable standards in the selected comparable or the actual replacement shall be included in the maximum replacement payment.
Adm 92.70(3)(c) (c) An agency shall select comparable dwellings from the neighborhood of a displaced person provided the area is not designated for governmental acquisition and displacement, or subject to adverse environmental conditions.
Adm 92.70(3)(d) (d) An agency shall select comparable dwellings from adjacent or nearby neighborhoods in ascending order of cost when there are no comparable dwellings in the neighborhood of a displaced person.
Adm 92.70(3)(e) (e) An agency, to promote racially integrated housing, may select comparable dwellings from an adjacent or nearby neighborhood having less concentrated racial composition, when desired by a displaced minority person.
Adm 92.70(3)(f) (f) The selected comparable shall be equal to or better than the acquired property and a payment shall be based on new construction when there is no comparable dwelling available.
Adm 92.70(4) (4)Revision to selected comparable amount. An agency, upon request of a displaced person, shall offer a comparable dwelling within the maximum differential amount determined. Another comparable study shall be made to determine a new replacement payment when there is no comparable dwelling available except the new replacement payment may not be less than the original payment.
Adm 92.70(5) (5)Increased interest payment.
Adm 92.70(5)(a)(a) General. An agency shall pay a displaced person for the increased interest expense and other debt service costs incurred in financing the purchase of a comparable replacement dwelling, if:
Adm 92.70(5)(a)1. 1. The acquired dwelling was encumbered by a bona fide mortgage or land contract;
Adm 92.70(5)(a)2. 2. The mortgage or land contract was executed in good faith not less than 180 days before initiation of negotiations to purchase the property;
Adm 92.70(5)(a)3. 3. All bona fide mortgages or land contracts that were valid liens on the displacement dwelling for at least 180 days before initiation of negotiations on the acquired dwelling shall be used to compute the increased interest payment.
Adm 92.70(5)(b) (b) Payment computation. The increased interest payment shall be computed as follows:
Adm 92.70(5)(b)1. 1. The interest payment shall be an amount which will reduce the mortgage balance on the replacement dwelling to an amount which could be amortized with the same monthly payment for principal and interest as that for the mortgage or mortgages on the displacement dwelling, except that the payment for a person obtaining a mortgage that is less than the mortgage balance computed in the buydown determination, shall be prorated and reduced accordingly. In the case of a home equity loan, the unpaid balance shall be that balance which existed 180 days before the initiation of negotiations or the balance on the date of acquisition, whichever is less.
Adm 92.70(5)(b)2. 2. The amount paid by a person as points, loan origination or assumption fees, but not seller's points, shall be based on the amount refinanced, not exceeding the amount which would have been paid had the original mortgage been refinanced, and shall be added to the amount as specified under subd. 1. The origination or assumption fee shall be limited to the fee normal for real estate transactions in the area.
Adm 92.70(5)(c) (c) Interest rate on replacement dwelling mortgage. The interest rate on the mortgage for a replacement dwelling used in the computation may not exceed the rate typically charged by mortgage lenders in the area.
Adm 92.70(5)(d) (d) Mortgage term. The payment shall be based on the remaining term of the mortgage or mortgages on the displacement dwelling regardless of the term on the new mortgage.
Adm 92.70(5)(e) (e) Adjustment to interest payment amount.
Adm 92.70(5)(e)1.1. Larger than typical size lot. The interest payment shall be reduced to the percentage ratio that the value of the typical residential portion is to the value of the entire property before acquisition, when a dwelling is located on a lot larger than typical for the area.
Adm 92.70(5)(e)2. 2. Multi-use property. The interest payment on multi-use property shall be reduced to the percentage ratio that the residential value of the multi-use property is to the value of the entire property before acquisition.
Adm 92.70(5)(e)3. 3. Dwelling on land with higher and better use. An agency shall compute an interest payment as specified under par. (b) when a dwelling is located on land where the fair market value is established on a higher and better than residential use, and when the mortgage is based on residential value. The interest payment shall be reduced to the percentage ratio that the estimated residential value of the land is to the value of the entire property before acquisition, when the mortgage is based on the higher use.
Adm 92.70(5)(f) (f) Prompt payment. An agency shall advise a displaced person of the approximate amount of a refinancing payment as soon as the facts relative to a person's current mortgages are known. If requested by the displaced person, the refinancing payment shall be made available at or near the time of closing on the replacement to permit reduction of the new mortgage amount.
Adm 92.70(6) (6)Incidental expense payment. An agency shall pay a person for actual and reasonable expense incurred incidental to the purchase of a replacement dwelling. The payment shall include the following:
Adm 92.70(6)(a) (a) Legal, closing and related cost including title search, preparing conveyance contracts, notary fees, surveys, preparing drawings or plats and recording fees;
Adm 92.70(6)(b) (b) Lender, appraisal or application fees, and loan origination or assumption fees that do not represent prepaid interest;
Adm 92.70(6)(c) (c) Certification of structural soundness;
Adm 92.70(6)(d) (d) Credit reports;
Adm 92.70(6)(e) (e) Owner or mortgagee title insurance policy or abstract of title;
Adm 92.70(6)(f) (f) Escrow agent fee;
Adm 92.70(6)(g) (g) Other expense approved by an agency.
Adm 92.70 Note Note: The payment may not include a prepaid expense (e.g. taxes, water, fuel) or fee, cost, charge or expense which is part of a debt service or finance charge under 15 USC 1631-1641 and Regulation Z issued pursuant thereto by the board of governors of the federal reserve system.
Adm 92.70(7) (7)Owner-occupant retains dwelling. An owner-occupant may purchase the property back from an agency and move it to another location following receipt of payment for the acquired property, and when not inconsistent with project development. The replacement payment shall be determined as follows:
Adm 92.70(7)(a) (a) Amount payable. The payment shall be the amount, if any, between the acquisition price and the cost to relocate the dwelling. The cost to relocate shall include the purchase-back price, the cost to acquire and develop a new site, or when moved to retained land, the market value of the residential lot, installing utility service, constructing a foundation, moving the dwelling, restoring it to comparable standards and other moving costs.
Adm 92.70(7)(b) (b) Limitation. The differential payment under this subsection may not exceed the amount necessary to purchase a comparable replacement dwelling as specified under sub. (3), plus any increased interest or incidental expense payment due under subs. (5) and (6).
Adm 92.70(8) (8)Replacement payment conversion. An agency shall pay a person as specified under this section. A replacement payment for a prior move to a rental unit shall be deducted from the amount payable under this section. The combined payment may not exceed $25,000, unless a person is eligible for a payment in excess of $25,000 under s. Adm 92.68 (9).
Adm 92.70 History History: Cr. Register, March, 1986, No. 363, eff. 4-1-86; am. (1) (b) (intro.), (5) (a) and (b) and (6) (b), r. and recr. (5) (d), cr. (5) (f), Register, November, 1989, No. 407, eff. 12-1-89; correction in (8) made under s. 13.93 (2m) (b) 7., Stats., Register, April, 1996, No. 484; correction in (8) made under s. 13.92 (4) (b) 7., Stats., Register December 2011 No. 672.
Adm 92.72 Adm 92.72 180-day owner who rents.
Adm 92.72(1) (1) General. An agency shall pay a person who rents a replacement dwelling, and is eligible for a replacement payment as specified under s. Adm 92.68 (1), a rental assistance payment not to exceed $8,000 for 4 years.
Adm 92.72(2) (2)Computation of payment. The payment shall be computed as specified under s. Adm 92.78, except the economic rent of the acquired dwelling shall be used to compute the payment.
Adm 92.72 History History: Cr. Register, March, 1986, No. 363, eff. 4-1-86; am. (2), Register, November, 1989, No. 407, eff. 12-1-89; corrections made under s. 13.93 (2m) (b) 7., Stats., Register, April, 1996, No. 484; correction in (1), (2) made under s. 13.92 (4) (b) 7., Stats., Register December 2011 No. 672.
Adm 92.74 Adm 92.74 90-day owner or tenant who purchases.
Adm 92.74(1)(1) General. An agency shall pay a person who has occupied a dwelling for not less than 90 days before initiation of negotiations, an amount up to $8,000 for a downpayment on the purchase of a replacement dwelling and reimbursement for expenses incidental to purchase.
Adm 92.74(2) (2)Computation of down payment and incidental cost.
Adm 92.74(2)(a)(a) An agency shall pay a person a downpayment assistance payment equal to a rental assistance payment computed as specified under s. Adm 92.78.
Adm 92.74(2)(b) (b) An amount required to be paid by a person for incidental cost as specified under s. Adm 92.70 (6), shall be added to the amount as specified under par. (a).
Adm 92.74(2)(c) (c) An agency shall pay a person who purchases and occupies a decent, safe and sanitary dwelling within one year after the date the person moves from the dwelling or the date the person receives payment for the acquired property, whichever is later. The agency may extend this period for good cause.
Adm 92.74(3) (3)Limitation.
Adm 92.74(3)(a)(a) An agency may require that the full amount of the downpayment assistance payment be applied to the purchase price of the replacement dwelling or related incidental expenses, except that an agency may pay the downpayment assistance directly to a displaced person upon reasonable assurance that the displaced person will apply the payment toward replacement housing costs.
Adm 92.74(3)(b) (b) A downpayment assistance payment to a 90-day owner may not exceed the amount the owner would have received if eligible under the 180-day occupancy provisions.
Adm 92.74(3)(c) (c) An owner eligible for a payment as a 180-day owner under s. Adm 92.70 is ineligible for a downpayment assistance payment under this section.
Adm 92.74(4) (4)Owner retains dwelling. An agency shall pay a person who retains and moves an acquired dwelling, a replacement payment as specified under s. Adm 92.70 (7), except the amount may not exceed $8,000.
Adm 92.74(5) (5)Replacement payment conversion. An agency shall pay a person as specified under this section. A replacement payment for a prior move to a rental unit shall be deducted from the amount payable under this section. The combined payment may not exceed $8,000, unless a person is eligible for a payment in excess of $8,000 under s. Adm 92.68 (9).
Adm 92.74 History History: Cr. Register, March, 1986, No. 363, eff. 4-1-86; am. (1), (2) (a) and (3), r. (2) (b), renum. (2) (c) and (d) to be (2) (b) and (c) and am., Register, November, 1989, No. 407, eff. 12-1-89; corrections made under s. 13.93 (2m) (b) 7., Stats., Register, April, 1996, No. 484; correction in (2) (a), (b), (3) (c), (4), (5) made under s. 13.92 (4) (b) 7., Stats., Register December 2011 No. 672.
Adm 92.76 Adm 92.76 90-day owner who rents.
Adm 92.76(1) (1) General. An agency shall pay a person who has occupied a dwelling for not less than 90 days before initiation of negotiations, a rental assistance payment not to exceed $8,000 for 4 years.
Adm 92.76(2) (2)Computation of payment. The payment shall be computed as specified under s. Adm 92.78, except the economic rent of the acquired dwelling shall be used to compute the payment.
Adm 92.76 History History: Cr. Register, March, 1986, No. 363, eff. 4-1-86; corrections in (2) made under s. 13.93 (2m) (b) 7., Stats., Register, April, 1996, No. 484; correction in (2) made under s. 13.92 (4) (b) 7., Stats., Register December 2011 No. 672.
Adm 92.78 Adm 92.78 90-day tenant who rents. An agency shall pay a person who has occupied a displacement dwelling for not less than 90 days before initiation of negotiations, for the increased cost to rent a comparable dwelling as specified under this section. A rental assistance payment shall not exceed $8,000 unless a person is eligible for a greater payment under s. Adm 92.68 (9).
Adm 92.78(1) (1)Eligibility requirement. A person shall be eligible for a payment when the person:
Adm 92.78(1)(a) (a) Occupies a dwelling for not less than 90 days immediately before the date of initiation of negotiations for a property which is subsequently acquired or affected by displacement and;
Adm 92.78(1)(b) (b) Rents and occupies a decent, safe and sanitary replacement dwelling within one year of the date of vacation. The agency may extend this period for good cause.
Adm 92.78(2) (2)Rent differential payment. An agency shall pay a person who rents a replacement dwelling, a payment equal to the difference for 48 months, if any, between the monthly rent for the displacement unit and the lesser of the monthly rent for a comparable dwelling or the actual replacement rent.
Adm 92.78(3) (3)Preferred replacement housing tenure. The agency shall assist a person relocate to original tenancy status or, at a person's option, purchase a replacement using the downpayment assistance provisions under s. Adm 92.80.
Adm 92.78(4) (4)Payment computation. To compute a payment, an agency shall determine the base monthly rent, the rent of a comparable dwelling and the rent paid for the replacement as follows:
Adm 92.78(4)(a) (a) Base monthly rent. The base monthly rent shall be:
Adm 92.78(4)(a)1. 1. The average monthly rent and utilities paid by the tenant-occupant, including a rent supplement provided by another person except when the supplement will be discontinued after relocation, for a 3 month period before initiation of negotiations, or a more representative period; or
Adm 92.78(4)(a)2. 2. The economic rent when the actual rent is insignificant in relation to market rents for similar dwellings in the area.
Adm 92.78(4)(a)3. 3. The agency may establish the base monthly rent by using a person's financial means as specified under s. Adm 92.01 (20) in lieu of the rent specified in subd. 1. or 2. If the person refuses to provide appropriate evidence of income or is a dependent, the base monthly rent shall be established as specified in subd. 1. or 2. A full time student or resident of an institution may be assumed to be a dependent, unless the person demonstrates otherwise.
Adm 92.78(4)(b) (b) Determine rent of a comparable dwelling. The agency shall determine the rent of a comparable dwelling using the selection procedures specified under s. Adm 92.70 (3) and (4).
Adm 92.78(5) (5)Comparability of rent factors. Rental cost factors such as utilities, furnishings, parking and others, shall be the same for the acquired dwelling and the comparable or replacement dwelling. However, rental factors in the comparable property which must be paid by the displaced person shall be included in the payment regardless of whether or not they existed in the acquired dwelling.
Adm 92.78(6) (6)Change of occupancy. A person who, after moving to a decent, safe and sanitary dwelling, moves to a higher rent dwelling within one year, may be eligible for an amount in excess of the original claim but not to exceed the amount necessary to rent a comparable replacement dwelling.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.