Common use of Expenditure Standard Clause in Contracts

Expenditure Standard. In order to insure effective administration and performance of approved CDBG Projects and to meet HUD performance standards, Sub-recipient agrees that it shall expedite implementation of the Project described herein expending all contracted funds within the term of the contract. In the event that reasonable progress has not been made and all funds are not expended within the term period, the City shall notify the Sub-recipient of the expenditure and implementation deficiency. Sub-recipient will have a total of 60 days from the date of the City’s written notification to correct the deficiency. If the deficiency is not corrected within that time, Sub-recipient agrees that the City may reallocate the amount of the expenditure deficiency. Sub-recipient understands City may not reimburse project expenses that are outside the contract term.

Expenditure Standard. In order to insure effective administration and performance of approved CDBG Projects and to meet HUD performance standards, Sub-recipient agrees that it shall expedite implementation of the Project described herein expending all contracted funds within the term of the contract. In the event that reasonable progress has not been made and all funds are not expended within the term period, the City shall notify the Sub-recipient of the expenditure and implementation deficiency. Sub-recipient will have a total of 60 days from the date of the City’s written notification to correct the deficiency. If the deficiency is not corrected within that time, Sub-recipient agrees that the City may reallocate the amount of the expenditure deficiency. Sub-recipient Subrecipient understands City may not reimburse project expenses that are outside the contract term.