PROPERTY MANAGEMENT AND DISPOSITION. If you use CDBG funds to acquire real or personal property, Federal regulations make you, the subrecipient, responsible for ensuring that the property continues to be used for its intended (and approved) purpose, that you keep track of it, that you take care of it, and that if you sell it, you reimburse the grantee for the CDBG share of the property’s value. This fairly straightforward proposition about the ownership, use, management, and disposition of property is complicated by two facts. First, the rules about property management and disposition differ slightly depending on whether you are a public-sector or private-sector subrecipient. (The rules are generally more explicit for governmental subrecipients). Second, the rules depend on the nature of the property. Real property (e.g., land, buildings) is treated differently than personal property (e.g., equipment, supplies, intangible property like copyrights). This chapter outlines the rules for subrecipients regarding the ownership, management, and disposition of real and personal property. Despite the different treatments, there are several key themes applicable to most property that should be emphasized at the outset: • Property can only be acquired with CDBG funds for a specific purpose that must be approved by the grantee and should be made a part of the Subrecipient Agreement. • The use of that property for the approved purpose must continue; in the case of personal property, generally for if the subrecipient owns it and the property is needed for the CDBG activity, and in the case of real property (acquired or improved with CDBG funds in excess of $25,000), generally for at least 5 years following the expiration of the Subrecipient Agreement. • If you own the property, you should keep accurate records for it (e.g., purchase date, price, location, physical description, maintenance history and condition, original and current use, and other inventory types of data). • You have to control the use of the property (in accordance with its intended purpose) and take good care of it (that is, take adequate steps to prevent its damage, theft, or loss). • If you no longer need the property, you can dispose of it but only according to specific rules (such as paying back the grantee, accounting for program income, etc.). The following chart summarizes the applicability of specific sections of the regulations to particular categories of property for governmental and private subrecipients and shows the relevant ...
PROPERTY MANAGEMENT AND DISPOSITION. A Any BLM owned materials (such as production-ready artwork) to be used in any anticipated project will be provided to Grand Staircase-Xxxxxxxxx Partners as needed, dependent upon the availability of such materials. All BLM materials provided will remain BLM property, and, upon termination of this agreement or upon the request of the BLM, will be returned.
PROPERTY MANAGEMENT AND DISPOSITION. Any BLM property used or other property acquired under this agreement, including intangible property such as copyrights and patents shall be governed by the provisions of 43 CFR, Subpart F, Section 12.930 through 12.937.
PROPERTY MANAGEMENT AND DISPOSITION. No direct funding is required by this agreement and no property, real or personal shall be acquired, managed or disposed of hereto. The law enforcement agency or each party will maintain its own personnel and equipment, and each will be responsible for all cost for emergency or routine assistance if it occurs as a result of an incident.
