Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following:
Use and Reversion of Assets. The use and disposition of any real property and equipment that was acquired or improved in whole or in part with CDBG funds shall be in compliance with the requirements of 24 CFR Subpart J, as applicable. Any real property under Subrecipient's control must either be:
Use and Reversion of Assets. The Subrecipient shall use all CDBG-assisted property acquired under this Agreement in accordance with 24 CFR 570.505 for a period of five (5) years following the date the IOCRA issued a “Certificate of Completion” to the Recipient respective to the Recipient’s CDBG Program. Unless specified otherwise within this Agreement, at the conclusion, cancellation, assignment or termination of this Agreement, the disposition of assets under this Agreement shall be in compliance with 24 CFR 570.503, 24 CFR 570.504, and 24 CFR 570.505, as applicable, which include but are not limited to the following:
Use and Reversion of Assets. The use and disposition of immovable property, equipment and remaining Grant Funds under this Agreement shall be in compliance with all CDBG regulations, which include but are not limited to the following:
Use and Reversion of Assets. 11.01 The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following:
Use and Reversion of Assets. All funds provided under this Agreement and all equipment, supplies and materials acquired with those funds that are on hand, available to, or in the actual or constructive possession of SUBRECIPIENT at the time of expiration of this Agreement, and any accounts receivable attributable to the use of funds provided under this Agreement will be transferred to COUNTY, unless otherwise specified in this Agreement. The use and disposition of equipment and real property under this Agreement will be in compliance with the requirements of 2 CFR Part 200.
Use and Reversion of Assets. If applicable, the use and disposition of real property and equipment under this Agreement shall follow the requirements applicable laws and regulations, which include but are not limited to the following:
Use and Reversion of Assets. The use and disposition of equipment under this AGREEMENT shall be in compliance with the requirements of 2 CFR Part 200.
Use and Reversion of Assets. The CDBG funds granted under this Agreement shall be used to meet the national objective of “Primary Benefit to Low- and Moderate-Income Persons”, as described in §570.208 (formerly §570.901) until at least five years after expiration of the Agreement, or for such longer period of time as determined to be appropriate by the City. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 2 CFR Part 200 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include, but are not limited to, the following:
Use and Reversion of Assets. Upon expiration of this AGREEMENT, SUBRECIPIENT shall transfer to CITY any CDBG funds and program assets on hand at the termination of this AGREEMENT unless specified herein or elsewhere under this AGREEMENT. The use and disposition of real property and equipment acquired in whole or in part with funds under this AGREEMENT shall comply with the requirements of 24 CFR §§570.502-505 and 2 CFR §§200.311-316, as applicable, which include but are not limited to the following: Real property under the SUBRECIPIENT’s control that was acquired or improved, in whole or part, with funds under this AGREEMENT in excess of $25,000 shall be used to meet one of the CDBG National objectives pursuant to 24 CFR §570.208 until five (5) years after expiration of this AGREEMENT. If SUBRECIPIENT fails to use CDBG-assisted real property in the manner that meets a CDBG National objective for the prescribed time, the SUBRECIPIENT shall pay CITY an amount equal to the current fair market value of the property less any portion of the value attributable to the expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute program income to the CITY. SUBRECIPIENT may retain real property acquired or improved under this AGREEMENT after expiration of the five-year period. Equipment not needed by the SUBRECIPIENT for activities under this AGREEMENT shall be a) transferred to the CITY for the CDBG program or b) retained after compensating the CITY an amount equal to the current fair market value of the equipment less the percentage of non-CDBG funds used to acquire the equipment. In all cases in which equipment acquired, in whole or in part, with funds under this AGREEMENT is sold, the proceeds shall be program income (prorated to reflect the extent that funds received under this AGREEMENT were used t acquire the equipment). Program Income. Program income as defined at 24 CFR §570.500(a) is income received by the SUBRECIPIENT that is generated by activities carried out with CDBG funds made available under this contract. If program income is received by the SUBRECIPIENT, the use of program income by the SUBRECIPIENT shall comply with the requirements set forth at 24 CFR §570.504 and may only use such income for activities permitted under this AGREEMENT and shall reduce requests for additional funds by the amount of any such program income balances on hand. All unexpended program income shall be returned to the CITY at the end of the contrac...
