Ownership of Project. The Project will be owned by Recipient for not less than ten years following the Project Completion Deadline. The Project will be operated by Recipient or by a person under a management contract or operating agreement with Recipient. Any such management contract or operating agreement will be structured as a “qualified management contract” as described in IRS Revenue Procedure 97-13, as amended or supplemented.
Appears in 3 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Ownership of Project. The Project will be owned by Recipient for not less than ten years following the Project Completion Close-Out Deadline. The Project will be operated by Recipient or by a person under a management contract or operating agreement with Recipient. Any such management contract or operating agreement will be structured as a “qualified management contract” as described in IRS Revenue Procedure 97-13, as amended or supplemented.
Appears in 2 contracts
Samples: Grant Agreement, www.cityofjohnday.com
Ownership of Project. The Project will be owned by Recipient for not less than ten years following the Project Completion Close-Out Deadline. The Project will be operated by Recipient or by a person under a management contract or operating agreement with Recipient. Any such management contract or operating agreement will be structured as a “qualified management contract” as described in IRS Revenue Procedure 97-13, as amended amended, or supplemented.
Appears in 1 contract
Samples: Grant Agreement
