§ 42-64.12-8. Compensation for eminent domain takings for economic development purposes.
Owners of property taken for economic development purposes shall be compensated for:
(a) A minimum of one hundred fifty percent (150%) of the fair market value of the real property.
(b) Expenses incidental to transfer of ownership to the acquiring entity, including, but not limited to, recording fees and transfer taxes, evidence of title and surveys and legal descriptions, penalty costs and other charges for prepaying mortgages entered into in good faith, a pro rata share of any prepaid property taxes or assessments for public utilities.
(c) Relocation expenses, including, but not limited to, actual, reasonable and necessary moving and reestablishment expenses.
History of Section.P.L. 2008, ch. 169, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64.12 - Eminent Domain
Section 42-64.12-1. - Short title.
Section 42-64.12-2. - Legislative findings.
Section 42-64.12-3. - Purposes of chapter.
Section 42-64.12-4. - Applicability.
Section 42-64.12-5. - Definitions.
Section 42-64.12-6. - Permissible uses of eminent domain powers.
Section 42-64.12-7. - Restricted use of eminent domain powers.
Section 42-64.12-8. - Compensation for eminent domain takings for economic development purposes.
Section 42-64.12-8.1. - Compensation for eminent domain takings for economic development purposes.
Section 42-64.12-9. - Powers of local redevelopment.
Section 42-64.12-10. - Temporary easements and partial takings.