Snohomish County Human Services 10/24/2016

F. Program Income 1. Program Income is gross income, revenues and receipts of the Agency derived from activities assisted with HOME funds under this Agreement, and is fully defined at 24 CFR § 92.2. Subject to provisions in the following paragraphs (2) through (5), all Program Income derived from activities assisted with HOME funds provided under this Agreement may be retained by the Agency if it is used exclusively for additional HOME projects allowed under, and subject to the terms of, this Agreement. Any such Program Income which the Agency elects not to retain for such use shall be remitted to the County. 2. All HOME Program Income received by the Agency from this Project shall be deposited in a single, separate HOME Program Income account ("the Agency account"). The Agency shall record and maintain cumulative records of the original source (the HOME project) of each deposit to the Agency account, and the HOME project receiving each disbursement from the Agency account. Any balance on hand in the Agency account must be disbursed for eligible costs under any HOME project of the Agency before the Agency may withdraw HOME funds from the County for this or any other HOME project. When this operation results in an unintended transfer of funding resources from one program or project to another, the Agency may request the County to execute compensating, offsetting amendments to the respective HOME award amounts, if the respective HOME agreements have not been terminated or closed. If the respective HOME agreements have been terminated or closed, the Agency may remit Program Income to the County and request that the County execute a corresponding new award. 3. The Agency shall submit the HOME Monthly Program Income Report, in the form of Exhibit H of program income receipts to and disbursements from the Contractor account. The Agency shall also maintain records sufficient to allow it to estimate, as accurately as is feasible, the total amount of HOME Program Income that will be received from all of the Agency's HOME-assisted activities during the next ensuing July 1 to June 30 twelve-month period, and shall report that estimated amount to the County by February 1 of current July 1 to June 30 twelve-month period. 4. Upon termination or expiration of this Agreement, as provided in Section I- F of Exhibit A hereof or the Basic Terms and Conditions Agreement, the Agency shall remit to the County the balance of Program Income on hand, and assign and convey to the County title to all Program Income receivables. Thereafter the Agency shall remit to the County any Program Income amounts received for so long as the County continues to be a Exhibit A HCS-16-42-1601-198 City of Everett Page 17 of 23