If a resident cannot relocate his or her manufactured home to another manufactured home park within a 25-mile radius or chooses not to relocate his or her manufactured home to a manufactured home park that is outside of Independent School District No. 196 or some other agreed upon distance and tenders title to the manufactured home, the resident is entitled to compensation to be paid by the purchaser of the park in order to mitigate the adverse financial impact of the park closing. In such instance, the compensation shall be an amount equal to the estimated market value or the tax assessed value of the manufactured home, whichever is greater, as determined by an independent appraiser experienced in mobile home appraisal approved by the City Administrator. The purchaser shall pay the cost of the appraisal or shall reimburse the city for any advances it makes to such appraiser for such cost. The purchaser shall pay such compensation into an escrow account, established by the park owner, for distribution upon transfer of title to the home. The amount otherwise due the displaced resident may be tendered on the date of transfer of title from the escrow account for payment on liens and encumbrances. The resident shall transfer title of the manufactured home to the park purchaser free and clear of all liens and encumbrances. All rent due the property owner and all property taxes for the current and prior years shall be paid by displaced residents prior to the removal of the manufactured home from the park by the park purchaser.
(Ord. 669, passed 3-23-00)