Cdbg Subrecipient Agreements

(5) Other program requirements. The contract requires the subcontractor to perform each activity in accordance with all federal laws and regulations described in Point K of these regulations, with the exception of: (3) program revenues. The agreement contains the revenue requirements of the program in accordance with this agreement. 570.504 (c). The agreement also provides that by the end of the year of the programme, the recipient may require the transfer of all or part of any program balance held by the sub-recipient (including your investments) (excluding immediate cash amounts, cash amounts from a revolving loan fund, cash holdings from a lump sum or cash, or investments held for security purposes under Section 108). (i) the sub-receiver does not assume the environmental responsibility of the beneficiary described in section 570.604; and (ii) are not used in accordance with point b) (7) (i) of this section, in the event that the sub-receiver pays the recipient an amount corresponding to the current market value of the property, reduced by a portion of the value resulting from non-CDBG fund expenditures for the acquisition or improvement of the property. Payment is the program`s recipe for the recipient. (At the expiration of the procedure referred to in point b) (7) (i) no payment is required.) (ii) The sub-receiver does not assume the responsibility of the recipient for the initiation of the verification procedure, in accordance with the provisions of Part 52 CFR 24.b) The written agreement with the sub-receiver contains at least provisions on the following points: 4) Uniform Prescriptions. The agreement requires the subcontractor to comply with the uniform requirements in force, in accordance with the provisions of S.

570.502. (7) Asset reversion. The contract stipulates that, at the end of the contract, the sub-recipient pays the recipient all the cdBG funds available at the time of expiry and all receivables attributable to the use of the cdBG funds. It also contains provisions to ensure that all real estate under the control of the subcontractor that has been acquired or improved in whole or in part with cdBG funds (including CDBG funds made available to the sub-recipient in the form of a loan) beyond $25,000: a) before the payment of the CDBG funds to a sub-recipient , the recipient signs a written agreement with the sub-recipient. The agreement remains in effect for a period during which the sub-receiver controls CDBG funds, including program revenues. (2) Records and reports. The recipient establishes in the agreement the specific registrations that the recipient must keep, as well as the reports that the subcontractor must submit to help the recipient meet its registration and reporting obligations. (1) Statement of Work. The agreement contains a description of the work to be carried out, a timetable for the completion of the work and a budget. These points must be sufficiently detailed to provide a solid basis for effective monitoring of performance under the agreement. (i) to achieve one of the national objectives under Section 570.208 (p.

570.901) up to five years after the expiry of the contract or for a period deemed appropriate by the beneficiary; or (6) suspension and termination of proceedings. The agreement contains corrective measures in the event of non-compliance and termination provisions pursuant to the second part CFR, Part 2, Part D.