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<br />deCent, safe, and sanitary, and reasonably accessible to public services and places of <br />employment; an amount to cover the increased interest costs to finance a replacement <br />dweiling; reasonable expenses for title, recording fees, and other closing costs incurred for the <br />purchase of a replacement dwelling. <br /> <br />For persons other than homeowners (tenants) replacement housing includes: an amount to <br />enable a tenant to lease, rent, or purchase a decent, safe, sanitary dwelling which is reasonably <br />accessible to public facilities and places of employment. <br /> <br />Costs to convey property to the government are also reimburseable under the Act. These <br />costs include: recording fees, transfer taxes and similar expenses, mortgage prepayment penalty <br />costs, real property taxes already paid. <br /> <br />Engineer's cost estimates were made for the two removal options being considered and these <br />are summarized in Tables 7-1 and 7-2. <br /> <br />TABLE 7-1 <br /> <br />ESTIMATED COSTS TO REMOVE STRUCTURE AND CONTENTS <br />TO A FLOOD-FREE SITE' <br /> <br />Item <br /> <br />Estimated Cost <br /> <br />Annual Cost' <br /> <br />Annual Cost as a Percentage of <br />Structure Value <br /> <br />= <br /> <br />$11,950. <br />3,200. <br />600. <br />1,000. <br />400. <br />$17,160. <br />$ 1,375. <br />4.6 <br /> <br />New Site Purchase and Preparation <br />Moving Structure to New Site' <br />Moving and Related Expenses <br />Replacement Housing for Homeowner <br />Costs to Convey Property to Government <br />Total First Cost <br /> <br />= <br /> <br />= <br /> <br />1 Estimated for a $30,000, 1600 sqlJare foot structure. Land value of a new site was assumed to be <br />$5,000. <br />2 Costs include 25 percent for contractor's bonds, overhead, profit, and engineering. <br />1 Amortized at 7 percent for 30 years. <br /> <br />50 <br />