(Amended by Ord. No. 184,336, Eff. 7/19/16.)
The relocation payment shall be made available by the landlord to the tenant in each residential unit and shall be in the amounts set forth in Section 151.09 G. of this Code, or in an amount equal to the sum of two months of the established fair market rent for the Los Angeles/Long Beach area as determined by the Department of Housing and Urban Development pursuant to Section 1437(f) of Title 42 of the United States Code, whichever amount is greater.
Beginning on July 1, 2005, the relocation amount for qualified and all other tenants shall be adjusted on an annual basis pursuant to the formula set forth in Section 151.06 D. The adjusted amount shall be rounded to the nearest fifty- dollar increment. If the relocation payment is based on the established fair market rent for the Los Angeles/Long Beach area as determined by the Department of Housing and Urban Development pursuant to Section 1437(f) of Title 42 of the United States Code, then the relocation payment shall also include an amount, as determined by the Enforcement Agency, sufficient for utility service deposits. The relocation benefits shall be paid by the landlord in addition to the return, as required by law, of any security deposits held by the landlord. The relocation benefits shall be made on a per residential unit basis.