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I, <br /> return of grant funds shall be reallocated in the same manner as <br /> • program income in Section VI.E. of this Agreement unless decreed <br /> otherwise by a Federal regulatory body or by final determination of <br /> a court of competent jurisdiction. <br /> VII. REAL PROPERTY ACQUISITION OR IMPROVEMENT <br /> The following provisions shall apply to real property acquired or improved in <br /> whole or in part using CDBG funds. <br /> A. COOPERATING UNIT shall promptly notify COUNTY of any modification or <br /> change in the use of real property from that planned at the time of <br /> acquisition or improvement including disposition and comply with 24 CFR <br /> §570.505. <br /> B. COOPERATING UNIT shall reimburse COUNTY an amount equal to the current <br /> fair market value (less any portion thereof attributable to expenditures <br /> of non-CDBG funds) of property acquired or improved with CDBG funds that <br /> is sold or transferred for a use which does not qualify under the CDBG <br /> regulations. Said reimbursement shall be provided to COUNTY at the time <br /> of sale or transfer of the property. Such reimbursement shall not be <br /> required if the conditions of 24 CFR §570.503(b)(8) (i) are met and <br /> satisfied. Fair market value shall be established by a current written <br /> appraisal by a qualified appraiser. COUNTY will have the option of <br /> requiring a second appraisal after review of the initial appraisal. <br /> • C. Program income generated from the disposition or transfer of property <br /> prior to or subsequent to the closeout, change of status or termination of <br /> this Agreement shall be treated as stipulated in Section VI. E. of this <br /> Agreement. <br /> VIII. METROPOLITAN CITIES <br /> Any metropolitan city executing this Agreement shall defer their entitlement <br /> status and become part of Urban Hennepin County. <br /> IR. OPINION OF COUNSEL <br /> The undersigned, on behalf of the Hennepin County Attorney, having reviewed this <br /> Agreement, hereby opines that the terms and provisions of the Agreement are fully <br /> authorized under State and local law and that the Agreement provides full legal <br /> authority for COUNTY to undertake or assist in undertaking essential community <br /> development and housing assistance activities, specifically urban renewal and <br /> publicly assisted housing. <br /> Assistant County Attorney <br /> 8 <br />