New Mexico § 42-3-7 - Additional payment to tenant

§ 42-3-7. Additional payment to tenant

A. In addition to amounts otherwise authorized by the Relocation Assistance Act, the

displacing agency shall make a payment to or for any displaced person displaced from

any dwelling not eligible to receive a payment under Section 42-3-6 NMSA 1978 when that dwelling was actually and lawfully occupied by the displaced person for

not less than ninety days immediately prior to the initiation of negotiations for

acquisition of the dwelling or in any case in which the displacement is a direct result

of acquisition or other event as the displacing agency shall prescribe. B. The payment in Subsection A of this section shall consist of the amount necessary

to enable the displaced person to lease or rent for a period not to exceed forty-two

months a comparable replacement dwelling, but at no time shall this payment exceed

seven thousand two hundred dollars ($7,200). At the discretion of the displacing agency, a payment under this subsection may

be made in periodic installments. Computation of a payment under this subsection to a low-income displaced person

for a comparable replacement dwelling shall take into account that person's income. C. Any person eligible for a payment under Subsection A of this section may elect

to apply the payment to a down payment on, and other incidental expenses pursuant

to, the purchase of a comparable replacement dwelling. That person may, at the discretion of the displacing agency, be eligible under this

subsection for the maximum payment allowed under Subsection B of this section, except

that, in the case of a displaced homeowner who has owned and occupied the displacement

dwelling for at least ninety days immediately prior to the initiation of negotiations

for the acquisition of the dwelling, this payment shall not exceed the payment the

person would otherwise have received under Subsection A of Section 42-3-6 NMSA 1978 had the person owned and occupied the displacement dwelling ninety days immediately

prior to the initiation of such negotiations.