Before any redevelopment project shall be initiated under this act, a relocation assistance plan shall be approved by the redevelopment trust proposing to undertake the project. Such relocation assistance plan shall: 1. Provide for relocation payments to be made to persons, families and businesses who move from real property or who move personal property from real property as a result of the acquisition of the real property by the city in carrying out the provisions of this act, the plan to specify the time and manner of any such payments agreed to; 2. Provide that no persons or families residing in the project area shall be displaced unless and until there is a suitable housing unit available and ready for occupancy by such displaced person or family at rents within their ability to pay. Such housing units shall be suitable to the needs of such displaced persons or families and must be a decent, safe, sanitary and otherwise standard dwelling; 3. Provide for the payment of any damages sustained by a retailer by reason of the liquidation of inventories necessitated by relocation; and 4. Provide for conformance with requirements promulgated under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended.
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