Replacement housing payments; rent and down payments

A displaced homeowner who qualifies under 8-273-25 (b), or a displaced tenant who qualifies under 8-273-25 (c) is entitled to a replacement housing payment of not more than $4,000. Within that limitation the payment shall be that amount necessary for the homeowner or tenant to— (a) Rent a comparable replacement dwelling for a period of not more than 4 years; or (b) Make the down payment required for a conventional loan and cover the incidental expenses on the purchase of a comparable replacement dwelling. (Effective April 30, 1975)