MARVIN MANDEL,

Governor

2185

(2)    Base rental — an amount not to exceed
actual rent paid, attributable to shelter rent and real
estate taxes.

(3)    Calculated base rental - an amount
calculated by the department equal to the shelter rent
and real estate taxes for a property owned or purchased
by a displacee or available for purchase on the market.

(4)    Department — Department of Housing and
Community Development of Baltimore City, or such other
agency of the City of Baltimore as may hereafter be
designated to administer the provisions of this Section.

(5)    Shelter rent — that portion of the
rental value of actual rental amount of a property
apportioned by the department to actual use of the
premises, excluding all other services, taxes, or charges
whatsoever.

b. Eligible displacees shall be entitled to an
acquisition assistance payment not to exceed [$25,000.00]
$25,000 as follows:

(1) In the event the displacee owns the
business facility from which he is displaced he shall be
entitled to a payment calculated as follows:

(a)    Such eligible displacee who
decides to purchase, construct or renovate a replacement
facility shall be entitled to a payment limited to [50%]
50 PERCENT of the differential of the increase, if any,
between the actual acquisition cost of the replacement
business facility, or in the event the replacement
facility is not comparable to the facility from which the
business was displaced, the reasonable current cost of a
comparable replacement business facility, whichever is
the lesser, over the acquisition payment for the old
business facility, plus an amount, if any, necessary to
compensate the displaced business for any incurred
interest costs which such business is required to pay for
financing the acquisition of the replacement facility.

(b)    The allowance for the interest
differential provided in paragraph (a) is limited to an
amount equal to the excess in the aggregate interest on
that amount of the balance of the mortgage on the
replacement facility which is equal to the unpaid balance
of the mortgage on the acquired facility over the
remaining term of the mortgage on the acquired facility,
reduced to discounted present value. The discount rate
shall be the prevailing interest rate paid on savings
deposits by commercial banks in the general area in which
the replacement facility is located.

(c)    Reasonable expenses incurred by
such displacee for evidence of title, recording fees and
other closing costs incident to the replacement business