Effective August 1st, the amount of relocation assistance required by subsection A of SMC 22.210.130 will increase from $3,255 to $3,340.
This amount will apply to all Tenant Relocation License applications that are submitted on or after August 1, 2015. Relocation assistance dollars paid to tenants are split equally between the property owner, and the City, meaning an owner’s share will now be $1,670.
The Tenant Relocation Assistance Ordinance (SMC 22.210) requires advance notice to all tenants who will be displaced by demolition, substantial rehabilitation, change of use, or removal of use restrictions from housing units, and for the payment of relocation assistance to eligible low-income tenant households. The Ordinance took effect on July 2, 1990.
The amount of relocation assistance is adjusted annually by the percentage amount of change in the housing component of the Consumer Price Index, as published by the United States Department of Labor, Bureau of Labor Statistics.