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(C)Recordsforindividualactivitiesforwhichthereareoutstandingloanbalances,otherreceivables, <br />orcontingentliabilitiesmustberetainedfor3yearsafterthereceivablesorliabilitieshavebeen <br />satisfied. <br />(ii)Forsubrecipients: <br />(A)TheretentionperiodforindividualCDBGactivitiesshallbethelongerof3yearsaftertheexpiration <br />orterminationofthesubrecipientagreementunder§570.503,or3yearsafterthesubmissionofthe <br />annualperformanceandevaluationreport,asprescribedin§91.520ofthistitle,inwhichthespecific <br />activityisreportedonforthefinaltime; <br />(B)Recordsforindividualactivitiessubjecttothereversion <br />ofassetsprovisionsat§570.503(b)(7)or <br />changeofuseprovisionsat§570.505mustbemaintainedforaslongasthoseprovisionscontinueto <br />applytotheactivity;and <br />(C)Recordsforindividualactivitiesforwhichthereareoutstandingloanbalances,otherreceivables, <br />orcontingentliabilitiesmustberetaineduntilsuchreceivablesorliabilitieshavebeensatisfied. <br />Forfairhousingandequalopportunitypurposes,andasapplicable,suchrecordsshallinclude <br />documentationrelatedtothe/źƷǤ͸ƭAFHasdescribedin24CFRpart5,subpartA(5.168). <br />AllCDBGDRprogramfinancialrecords,applications,supportingdocuments,statisticalrecords,andall <br />otherrecordspertinenttoaCDBGDRprogramorprojectwillberetainedforaperiodoffour(4)years. <br />Theretentionperiodbeginsonthedateofthecloseoutoftheprojectandwillendfour(4)yearsfrom <br />thatdateunlessthereislitigation,claims,audit,negotiation,orotheractionsinvolvingtherecords,which <br />hasstartedbeforeexpirationofthe4yearperiod.Insuchcases,therecordsmustberetaineduntil <br />completionoftheactionandresolutionofallissueswhicharisefromitortheendoftheregular4year <br />period,whicheverislonger. <br />The/źƷǤ͸ƭMunisaccountingsystemwillalsoretainelectroniccopiesofallsourcedocumentationand <br />accountingrecordsforthesameperiod. <br />SECTION10:OVERALLBENEFITOFLOW/MODERATEINCOMEPERSONS <br />TheoverallbenefitrequirementofFederalRegisterNotice81FR39687datedJune17,2016providesthat <br />70%oftotalCDBGDRfundsawardedmustbenefitlowandmoderateincomepersons.Thisamountis <br />subjecttowaiverrequestsbytheCitytotheSanAntonioHUDFieldOffice. <br />ThereareareaswithintheCitythatcontainhigherconcentrationsofminoritiesandextremelow/lowto <br />moderateincomehouseholds.TheCityiscommittedtotargetedoutreachtotheseareasandtoother <br />areaswithvulnerablepopulationsthathavelimitedaccesstocommunityassistanceandinvolvement. <br />ThistargetedoutreachwillinsurethatthesepopulationsareprovidedaccesstoCDBGDRfundsfromthis <br />allocation.Ataminimum$17,556,000ofthefundsallocatedintheActionPlanforeligibleactivitieswill <br />provideanoverallbenefittolowandmoderateincomepersons.Thiswillbeaccomplishedbyproviding <br />directbenefittoLMIclientsandalsoareawidebenefitstoLMIneighborhoods. <br />SECTION11:PROGRAMADMINISTRATIONCOSTSLIMITATION <br />InaccordancewiththeFederalRegisterand24CFR570.200,24CFR570.205and24CFR570.206no <br />morethan$1,254,000or5%oftotalCDBGDRgrantawardof$25,080,000willbeusedforprogram <br />administrativecosts. <br />CITYOFSANMARCOSCDBGDRFINANCIALPOLICIES&PROCEDURESMANAUAL21|P <br />AGE <br /> <br />