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Ordinarily, to be eligible for the minimum Fixed Payment, your business must have had average annual <br />gross receipts of at least $5,000 or had average annual net earnings of at least $1,000, or contributed W <br />of your business's average gross income for the two tax years prior to displacement. Other criteria may <br />be used if it is determined that the calculation would cause an inequity or hardship. Paragon will inform <br />you as to your eligibility for this payment and the documentation you must submit to support your claim. <br />Remember, when you elect to take this payment, you are not entitled to reimbursement for any other <br />moving expenses. <br />Must I File a Claim to Obtain a Relocation Payment? <br />Yes. You must file a claim for each relocation payment. Paragon will prepare the required claim form, <br />and explain the type of documentation that you must submit in order to receive the payment. <br />If you must pay any relocation expenses before you move (e.g., a security deposit when you lease a new <br />location), discuss your needs with your relocation advisor. You may be able to obtain an advance <br />payment. <br />If you are a tenant, you must file your claim within 18 months after the date you move. If you are displaced <br />from property that you own, you must file within 18 months after the later of the date you move, or the date <br />you receive the final acquisition payment. However, it is to your advantage to file as soon as possible after <br />you move. The sooner you submit your claim, the sooner it can be processed and paid. <br />You will be paid promptly after you file an acceptable claim. If there is any question regarding your right <br />to a relocation payment or the amount of the payment, you will be notified in writing of the problem and <br />the action you must take to resolve the matter. <br />Will I Have to Pay Rent to the City Before I Move? <br />If the City acquires your property, you will be required to pay a fair rent to the City for the period between <br />the acquisition of your property and the date that you move. Such rent will not exceed the market rent for <br />comparable properties in the area. <br />Do I Have to Pay Federal Income Taxes on My Relocation Payments? <br />No. Relocation benefit payments are not considered income for the purpose of the Internal Revenue <br />Service Code of 1986, or the Personal Income Tax Law, Part 10 (commencing with Section 17001) of <br />Division 2 of the Revenue and Taxation Code, or the Bank and Corporation Tax law, Part 11 <br />(commencing with Section 23001) of Division 2 of the Revenue and Taxation Code. The preceding <br />statement is not tendered as legal advice in regard to tax consequences. You should consult with your <br />tax advisor or legal counsel to determine the current status of such payments. <br />If I Disagree with a Determination of Assistance, Can I Appeal? <br />Yes. If you disagree with the City's decision as to your right to relocation assistance or the amount of a <br />relocation payment, you may appeal the decision to the City. Your relocation advisor will inform you of <br />the appeal procedures. At a minimum, you will have 60 days to file your appeal with the City after you <br />52 <br />55B-63 <br />