Common use of Property Disposition Clause in Contracts

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: CDBG Subrecipient Contract, Development Agreement, CDBG Subrecipient Contract

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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: CDBG Subrecipient Contract

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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: CDBG Subrecipient Agreement

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