Interest of Board Members and Officials of Grantee Corporation Sample Clauses

Interest of Board Members and Officials of Grantee Corporation. No member of the board of directors, governing officer or employee of the Corporation who exercises any functions or responsibilities in connection with the planning or carrying out of the Program during his/her tenure or for one year thereafter, shall have any personal financial interest, direct or indirect, in any contract or subcontract, or the proceeds thereof for work to be performed in connection with the programs assisted under this Agreement. The prohibition contained in this section shall prevent, among other things, any officer or board member or employee, during his/her tenure and for one year thereafter, from assuming a position, within or outside the Corporation, funded directly or indirectly with CDBG or ESGP funds. Furthermore, no individual employee of the Corporation, including the executive director, shall be a member of the Board of Directors of the Corporation during his or her employment and for one year thereafter; provided, nothing herein shall prevent any employee from attending Board of Directors meetings. The Corporation shall take appropriate steps to assure compliance with this section. The Corporation agrees that it shall incorporate into every contract required to be in writing the following provision: "Interest of Contractor and Employees - The Contractor covenants that no person, including but not limited to, an officer or board member or employee of the Corporation, who presently exercises any functions or responsibilities in connection with the Program, shall have any personal financial interest, direct or indirect, in this Contract or current City/Corporation Agreement. The Contractor further covenants that he/she presently has no interest and shall not acquire any interest, direct or indirect, in the immediate neighborhood or any parcels therein, which would affect or conflict in any manner or degree with the performance of his/her services hereunder. The Contractor further covenants that, in the performance of this contract, no person having any conflicting interest shall be employed. It shall be the responsibility of the Contractor to make all reasonable and lawful efforts and inquiries in determining if any employee or prospective employee has any conflicting interest. Any interest or possible interest of the Contractor or his/her employees must be disclosed to the Corporation and to the Mayor’s Office of Housing." Provided, however, that this paragraph shall be interpreted in such a manner so as not to unreasonably i...