Property Disposition. Real or personal property purchased in whole or in part with CDBG funds shall not be disposed through sale, use, or location without the written permission of the City and/or HUD as applicable. The proceeds from the disposition of real property will be considered Program Income and subject to 24 CFR §570.504(c).
Appears in 3 contracts
Samples: Subrecipient Contract, Memorandum of Agreement, Subrecipient Contract
Property Disposition. Real or personal property purchased in whole or in part with CDBG funds shall not be disposed through sale, use, or location without the written permission of the City and/or HUD as applicable. The proceeds from the disposition of real property will be considered Program Income and subject to 24 CFR §570.504(c). Program income received as a result of disposition of CDBG-assisted property shall be remitted to the City unless waived in writing by the City.
Appears in 1 contract
Samples: Subrecipient Contract
Property Disposition. Real or personal property purchased in whole or in part with CDBG funds shall not be disposed through sale, use, or location without the written permission of the City and/or HUD as applicableCity. The proceeds from the disposition of real property will be considered Program Income and subject to 24 CFR §§ 570.504(c).
Appears in 1 contract
Samples: Subreceipient Agreement
