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2) When Contractor no longer has need for the property in any of its Federal <br /> grant programs, the property may be used for its own official activities in <br /> accordance with the following standards: <br /> a) Nonexpendable property with an acquisition cost of less than $500 <br /> and used four years or more. Contractor may use the property for <br /> its own official activities without reimbursement to the City or sell <br /> the property and retain the proceeds. <br /> b) All other nonexpendable property. Contractor may retain the <br /> property for its own use provided that a fair compensation is made <br /> to the City for the latter's share of the property. The amount of <br /> compensation shall be computed by applying the percentage of <br /> Federal participation in the grant program to the current fair market <br /> value of the property. <br /> 3) If Contractor has no need for the property, disposition of the property shall <br /> be made as follows: <br /> a) Nonexpendable property with an acquisition cost of$1,000 or less. <br /> Except for that property which meets the criteria of(2)(a) above, <br /> Contractor shall sell the property and reimburse the City an amount <br /> which is computed in accordance with(iii)below. <br /> b) Nonexpendable property with an acquisition costs of over $1,000. <br /> Contractor shall request disposition instructions from the City. The <br /> City shall determine whether the property can be used to meet the <br /> City's or HUD's requirement. If no requirement exists, the <br /> availability of the property shall be reported to the General Services <br /> Administration(GSA)by HUD to determine whether a requirement <br /> for the property exists in other Federal agencies. The City shall <br /> issue instructions to Contractor within 120 days the following <br /> procedures shall govern: <br /> i. If Contractor is instructed to ship the property elsewhere, <br /> Contractor shall be reimbursed by the benefitting Federal <br /> agency with an amount which is computed by applying the <br /> percentage of Contractor's participation in the grant <br /> program to the current fair market value of the property, <br /> plus any shipping or interim storage costs incurred. <br /> Exhibit F—DCARA page 3 of 5 <br /> July 15,2002 <br /> G:\Community Development\CDBG\DCARA\2002-03 <br />