Res 2010-133 - Laserfiche WebLink

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10. Program Income. For Projects that create long -term rental revenue (e.g., buildings or real property constructed or improved for the purpose of renting or leasing space), the Recipient agrees to use such income generated from the rental or lease of any Project facility in the following order of priority: a. Administration, operation, maintenance, and repair of Project facilities for their estimated useful life (as determined by EDA) in a manner consistent with good property management practice and in accordance with established building codes. This includes, where applicable, repayment of indebtedness resulting from any EDA- approved encumbrance (e.g., approved mortgage) on the EDA- assisted facility. b. Economic development activities that are authorized for support by EDA, provided such activities meet the economic development purposes of PWEDA. See 15 C.F.R. §§ 14.24 or 24.25, as applicable. C. Programmatic Requirements. Quarterly Reporting. a. Quarterly performance reports must be submitted in accordance with the procedures set out in 15 C.F.R. parts 14 or 24, as applicable, and as indicated below. Failure to submit required reports in a timely manner may result in the withholding of payments under this Award; deferral of processing of new awards, amendments, or supplemental funding pending the receipt of the overdue report(s); or the establishment of an account receivable for the difference between the total federal share of outlays last reported and the amount disbursed. See 13 C.F.R. § 302.18(a). b. Unless otherwise specified in this Award, the quarterly performance report will contain the following information for each Project program, function, or activity: (i) A comparison of planned and actual accomplishments according to the timetable or list of Project objectives in this Award; (ii) An explanation of any delays or failures to meet the Project timetable or Project goals; and (iii) Any other pertinent information including, when appropriate, analysis, and explanation of cost overruns or high unit costs. Quarterly performance reports shall be submitted for each calendar quarter to the Project Officer. Each performance report will be due not later than January 15, April 15, July 15, and October 15 for the immediate previous quarter. The final Project performance report shall be submitted to EDA no more than 90 days after the Project Closeout date. This reporting requirement begins with the Recipient's acceptance of this Award and ends when EDA approves Project Closeout. See 15 C.F.R. §§ 14.51 or 24.40, as applicable. The Recipient shall submit quarterly performance reports to the EDA Project Officer in hardcopy or electronically as specified in the special award conditions. 2. Interim Reporting. The Recipient must report any event that will or may have significant impact upon the Project, including delays or adverse conditions that materially may affect the 0