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Exhibit B - 7 <br />Pursuant to HUD’s Notice, “Public Interest Phased Implementation Waiver for FY 2022 and <br />2023 of Build America, Buy America Provisions as Applied to Recipients of HUD Federal <br />Financial Assistance” (88 FR 17001), any funds obligated by HUD on or after the applicable <br />listed effective dates, are subject to BABA requirements, unless excepted by a waiver. <br /> <br />E. Use and Reversion of Assets <br /> <br />The use and disposition of real property and equipment under this Agreement shall be in <br />compliance with the requirements of 2 CFR 200 Uniform Administrative Requirements and 24 <br />CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the <br />following: <br /> <br />1. The Subrecipient shall transfer to the City any CDBG funds on hand and any accounts <br />receivable attributable to the use of funds under this Agreement at the time of expiration, <br />cancellation, or termination. <br /> <br />2. Real property under the Subrecipient’s control that was acquired or improved, in whole or <br />in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of <br />the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after <br />expiration of this Agreement [or such longer period of time as the City deems appropriate]. <br />If the Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG <br />National Objective for the prescribed period of time, the Subrecipient shall pay the City an <br />amount equal to the current fair market value of the property less any portion of the value <br />attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the <br />property. Such payment shall constitute program income to the City. The Subrecipient may <br />retain real property acquired or improved under this Agreement after the expiration of the <br />five-year period [or such longer period of time as the City deems appropriate]. <br /> <br />3. In all cases in which equipment acquired, in whole or in part, with funds under this <br />Agreement is sold, the proceeds shall be program income (prorated to reflect the extent to <br />that funds received under this Agreement were used to acquire the equipment). Equipment <br />not needed by the Subrecipient for activities under this Agreement shall be (a) transferred <br />to the City for the CDBG program or (b) retained after compensating the City [an amount <br />equal to the current fair market value of the equipment less the percentage of non-CDBG <br />funds used to acquire the equipment]. <br /> <br />III. Relocation, Real Property Acquisition and One-for-One Housing Replacement <br /> <br />The Subrecipient agrees to comply with (a) the Uniform Relocation Assistance and Real Property <br />Acquisition Policies Act of 1970, as amended (URA), and implementing regulations at 49 CFR Part <br />24 and 24 CFR 570.606(b); (b) the requirements of 24 CFR 570.606(c) governing the Residential <br />Antidisplacement and Relocation Assistance Plan under section 104(d) of the HCD Act; and (c) the <br />requirements in § 570.606(d) governing optional relocation policies. The Subrecipient shall <br />provide relocation assistance to persons, as defined by 24 CFR 570.606(b)(2), that are displaced <br />as a direct result of acquisition, rehabilitation, demolition or conversion for a CDBG-assisted