Planned development in the area involves landscaping and construction of a dam.
Jakkapan said after a meeting of officials from the BMA Public Works and Drainage and Sewerage departments and the District Office that affected residents could collect compensation funds at City Hall on July 26.
Plans call for the Metropolitan Electricity Authority to cut off power to the neighbourhood on July 10 before 60 workers and heavy machinery move in to demolish buildings.
A 30-member clean-up team will then remove the debris.
Jakkapan said Thesakij municipal law-enforcement officers would maintain order in the area during the project and city officials would take photos of the work in progress as proof that everything was above board.