CC PACKET 10131987 - Laserfiche WebLink

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f 1. COUNTY will retain' ten percent '(10%) of all program income paid to COUNTY to defray administration expenses. • 2:� . The remaining ninety percent (90%) . of the program income paid . to COUNTY shall' be credited 'to the grant authority of COOPER ATING UNIT whose activity generated the program income and shall be used for fundable and eligible CDBG activities con- sistent with this Agreement. 3. COOPERATING UNIT is authorized to retain program income derived from activities with an approved revolving account provided such income is used only for, eligible activities in accordance with all CDBG requirements_as they may apply. . 4. . COOPERATING UNIT shall maintain appropriate records and make reports to COUNTY as may be needed to enable COUNTY to monitor and report to HUD- on the use of any program income. 5. Any program income that is on hand or received subsequent to the closeout or change in status of COOPERATING UNIT shall be paid to COUNTY. Section VIII. REAL PROPERTY ACQUISITION OR IMPROVEMENT, shall be added to the original contract and shall read: SECTION VIII. REAL PROPERTY ACQUISITION OR IMPROVEMENT The following provisions shall apply .to real property acquired or improved in whole or in part using COBG funds. A. COOPERATING UNIT shall promptly -notify COUNTY of. any modification or change in the use of real property from that planned at the time of acquisition or improvement including disposition. - - B. COOPERATING UNIT shall reimburse COUNTY in an amount equal to the current fair market value (less any portion thereof attributable to expenditures of non-CDBG funds) of property acquired or improved with CDBG funds that is sold or transferred for a use which does not qualify under the CDBG regulations. C. Program income generated from the disposition or transfer of .property prior to or subsequent to the closeout, change of status or termination of this Agreement shall be treated as stipulated in Section VII , paragraph E of this Agreement. Section IX. METROPOLITAN CITIES, shall be added to the original contract and shall read: