D.C. Mun. Regs. tit. 10, r. 10-B2217

Current through Register Vol. 71, No. 36, September 6, 2024
Rule 10-B2217 - PAYMENTS TO BUSINESSES: LOSS OF PERSONAL PROPERTY
2217.1

An owner of a displaced business shall be reimbursed for actual direct losses of tangible personal property when the owner is entitled to relocate that personal property in whole or in part and elects not to do so.

2217.2

Payment. for actual direct losses shall be made only after a bona fide effort has been made by the owner to sell the personal property involved.

2217.3

If the business is to be reestablished and the personal property is sold and not moved, but is promptly replaced with comparable property at the new location, reimbursement shall be the lesser of the following:

(a) The replacement cost minus the net proceeds of the sale, or
(b) The estimated cost of moving the personal property.
2217.4

If the personal property is sold and if the business is to be discontinued or the personal property is not to be replaced in the re-established business, reimbursement shall be the lesser of the following:

(a) The difference between the depreciated value of the property in place and the net proceeds of the sale; or
(b) The estimated cost of moving the personal property.
2217.5

If a bona fide sale is not effected because no offer is received for the personal property, payments shall include the reasonable expenses of the attempted sale, in addition to the fair market value of the personal property for continued use, not to exceed the estimated cost of moving the property for a distance of fifty (50) miles.

2217.6

If the personal property is abandoned without efforts on the part of the owner to dispose of it by sale or removal, no payment shall be made for moving expenses or losses with respect to the property.

D.C. Mun. Regs. tit. 10, r. 10-B2217

§ 502(b) of the Relocation Regulations, Regulation No. 73-4, 19 DCR 599, 614 (February 21, 1973)