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Programincomeincludes,butisnotlimitedto,thefollowing: <br />(a)Proceedsfromthedispositionbysaleorlongtermleaseofrealpropertypurchasedorimproved <br />with/5.DΑ5wfunds. <br />(b)Proceedsfromthedispositionofequipmentpurchasedwith/5.DΑ5wfunds. <br />(c)GrossincomefromtheuseorrentalofrealorpersonalpropertyacquiredbyaState,UGLG,or <br />tribeorsubrecipientofaState,UGLG,ortribewith/5.DΑ5wfunds,lesscostsincidentalto <br />generationoftheincome(i.e.,netincome). <br />(d)NetincomefromtheuseorrentalofrealpropertyownedbyaState,UGLG,ortribeor <br />subrecipientofaState,UGLG,ortribe,thatwasconstructedorimprovedwith/5.DΑDRfunds. <br />(e)Paymentsofprincipalandinterestonloansmadeusing/5.DΑ5wfunds. <br />(f)Proceedsfromthesaleofloansmadewith/5.DΑ5wfunds. <br />(g)Proceedsfromthesaleofobligationssecuredbyloansmadewith/5.DΑ5wfunds. <br />(h)Interestearnedonprogramincomependingdispositionoftheincome,includinginterestearned <br />onfundsheldinarevolvingfundaccount. <br />(i)Fundscollectedthroughspecialassessmentsmadeagainstnonresidentialpropertiesand <br />propertiesownedandoccupiedbyhouseholdsnotoflowandmoderateincome,wherethe <br />specialassessmentsareusedtorecoverallorpartofthe/5.DΑ5wportionofapublic <br />improvement. <br />(j)GrossincomepaidtoaState,UGLG,ortribe,orpaidtoasubrecipientthereof,fromtheownership <br />interestinaforprofitentityinwhichtheincomeisinreturnfortheprovisionof/5.DΑDR <br />assistance. <br />Programincomedoesnotincludethefollowing: <br />(a)Thetotalamountoffundsthatislessthan$35,000receivedinasingleyearandretainedbya <br />State,UGLG,tribe,orretainedbyasubrecipientthereof. <br />(b)Amountsgeneratedbyactivitieseligibleundersection105(a)(15)oftheHCDActandcarriedout <br />byanentityundertheauthorityofsection105(a)(15)oftheHCDAct. <br />TheCitydoesnotcurrentlyanticipategeneratingprogramincomefromtheactivitiestobefundedutilizing <br />theCDBGDRGrant.IntheeventprogramincomeisgeneratedSanMarcoswillcomplywithHUD <br />requirementsfoundin24CFR570.489andanyadditionalFederalrequirementsfoundin2CFR§200.307. <br />Intheeventthe/źƷǤ͸ƭactivitiesgenerateprogramincome,thosefunds,tothemaximumextentfeasible, <br />willbedistributedbeforetheCitymakesadditionalwithdrawalsfromtheTreasury. <br />Programincomereceivedbeforeorafterthecloseoutofthegrantandusedtocontinuedisasterrecovery <br />activities,willbetreatedasadditionalCDBGDRfundssubjecttotherequirementsoftheFederalRegister <br />NoticepublishedJune17,2016andmustbeusedinaccordancewiththe/źƷǤ͸ƭActionPlanforDisaster <br />Recovery. <br />AllsubrecipientsfundedthroughtheCDBGDRgrantwhogenerateprogramincomeshallcomplywiththe <br />requirementssetforthat24CFR§570.504.TheSubrecipientshallreportallprogramincome(asdefined <br />bytheFederalRegisterNoticeandat24CFR§570.500(a).Programincomegeneratedbyactivitiescarried <br />outwithCDBGDRfundsmadeavailableunderaSubrecipientAgreementwillbereportedintheform, <br />content,andfrequencyrequiredbytheCity. <br />TheSubrecipientmayusesuchincomeduringthecontractperiodforactivitiespermittedunderthe <br />SubrecipientAgreementandshallreducerequestsforadditionalfundsbytheamountofanysuch <br />programincomebalancesonhand.AllunexpendedprogramincomeshallbereturnedtotheCityatthe <br />CITYOFSANMARCOSCDBGDRFINANCIALPOLICIES&PROCEDURESMANAUAL12|P <br />AGE <br /> <br />