Section 16-7-115 - Programs with federal financing; reimbursable expenses of displaced property owner(a) Any agency acquiring real property for a program or project for which federal financial assistance will be available to pay all or any part of the cost of the program or project shall, as soon as practicable after the date of payment of the purchase price or the date of deposit into court of funds to satisfy the award of compensation in a condemnation proceeding to acquire real property, whichever is earlier, reimburse the owner, to the extent the acquiring agency deems fair and reasonable, for expenses he necessarily incurred for: (i) Recording fees, transfer taxes and similar expenses incidental to conveying such real property to the acquiring agency; (ii) Penalty costs for prepayment for any preexisting recorded mortgage entered into in good faith encumbering such real property; and (iii) The pro rata portion of real property taxes paid which are allocable to a period subsequent to the date of vesting title in the acquiring agency, or the effective date of possession of the real property by the acquiring agency, whichever is earlier.