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PRESENTATION
Relocation process during construction
0:23:40
ยท
43 sec
The project includes a comprehensive relocation plan for residents during the construction period. This plan aims to minimize disruption to residents' lives while ensuring their safety and comfort.
- Residents are typically relocated for 24 to 30 months during construction.
- The project budget covers the difference between current TIL rents and relocation unit rents until conversion.
- Relocation costs include moving expenses, movers, boxes, tape, and storage.
- Some tenants are relocated early due to concerns about current building safety.
- The project provides co-op success trainers to help residents prepare for homeownership.
- A substantial reserve fund is established to help the building handle unforeseen emergencies.
Regina Lovitt
0:23:40
Residents are typically relocated during the construction period, which is about twenty four to thirty months, which the project budget covers the difference between the current amount they pay, which is their till rents, and the relocation unit rents until conversion.
0:23:53
The project budget also covers other costs related like moving, movers, boxes, tape, and storage.
0:24:00
In these buildings' case specifically, some tenants are relocated early due to concerns about current building safety.
0:24:06
This project also provides co op success trainers to the residents to help build their knowledge and ability to become successful homeowners.
0:24:13
Lastly, the budget provides a substantial reserve fund to set up the buildings for success from the start and help the building pay for any unforeseen emergencies down the road.
0:24:22
Next slide, please.